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Sur La Table closing stores, seeking bankruptcy protection

Sur La Table closing stores, seeking bankruptcy protection
Posted at 2:28 PM, Jul 09, 2020
and last updated 2020-07-09 17:28:26-04

SEATTLE (AP) — Cookware and kitchen chain Sur La Table is closing 56 of its 121 stores as it seeks bankruptcy protection, the latest retail casualty of the coronavirus pandemic.

The privately-held Seattle-based company says it has agreed to sell its remaining stores to affiliates of Fortress Investment Group following the bankruptcy procedure and store closures.

“This sale process will result in a revitalized Sur La Table, positioned to thrive in a post-COVID-19 retail environment," CEO Jason Goldberger said in the press release. "Sur La Table will have a balance sheet and retail footprint optimized to position the Company for a bright future that continues our nearly 50-year tradition of offering high-quality cooking products and experiences to our customers.”

The post-sale company will also include its in-person and online cooking classes and its e-commerce business.

Sur La's chefs typically teach 60,000 cooking classes a year to more than 700,000 people, the company said.

Sur La Table had its start in Seattle's Pike Place Market in 1972.