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Brooklyn Roasting Goes Bankrupt, Announced Shut down Of The Retail!

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Brooklyn Roasting

Pandemic Hits Brooklyn Roasting

Pandemic is doing the worst for businesses around the world. It affected all kinds of companies around the world and forced many to shut down their business. Brooklyn Roasting Company is next to the list, as the company recently got bankrupt.

Brooklyn is a pioneer in the coffee business in the West, and it supplies the best quality coffee across the world. They assure quality and make the coffee packed for several locations after several tests and procedures.

They have seven retail shops in New York and now all the going to shut down soon. The company starts expanding their business in 2009 and going successfully since then. But the pandemic takes a toll on the business world to Brooklyn Roasting.

Founder And The Company’s Position

The company is set by Jim Munson and was earlier a partner of Brooklyn Brewery. The company is known for delivering the best company to the world. And the coffee beans go through a challenging testing process before packaging.

Brooklyn Roasting company taste 130 varieties of coffee for selecting the six best out of that. And that ensures the quality and the fantastic brew and taste. They have wholesale as well as subscriptions and deliver coffee across the world.

The company in 2019 because of a deal faces loss for the first time in 2019. But they started to regain customers and profit and just having a better position in the perfect. But pandemic hits them hard and the business fall again.

Pandemic Made It Worst

The company had a low position in 2019, and revenues declined to $9.7 million. But they fought hard and with lots of effort made the revenue increased to $10.3 million in 2020. And only then COVID-19 rolled out nation and lockdown imposed all over the world.

Brooklyn Roasting

Source: dumbo.is

The lockdown greatly affected the company’s regular sales and also affected the wholesale business. They got a loan of a considerable amount of $727,000. But because of continuous lock down the money ran out soon in August.

And after all of this, it is not possible for Brooklyn Roasting to continue their business any longer and are bound to shut down all the details across. Pandemic made many companies shut down their businesses after facing colossal loss, and the roasting venture is one such.

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