New Committee to Review Second Cup’s Strategic Options

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MISSISSAUGA, Ont.—The Second Cup says it has established a special committee to review its strategic options. According to The Toronto Star, the committee was formed following comments by the company earlier this year that it was pursuing options to refinance its debt.

The coffee shop chain has struggled to maintain market share as rivals such as Tim Hortons and Starbucks have expanded and has reported a net loss of $75,000, or a penny per share, for the third quarter ending Sept. 24 — an improvement from the $1.1-million loss, or nine cents per share, for the same period last year. Revenue was nearly $7.7 million, down from almost $9.3 million in the same quarter in 2015.

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