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.