Starbucks Announces Plans to Shutdown 600 Stores

Coffee giant Starbucks has announced it will close down 600 underperforming stores over the course of the next year.

Starbucks revealed that more than 400 of those stores slatted to be closed were opened after their fiscal year beginning in 2006.

The ubiquitous Starbucks brand will also slow down its roll-out of new stores, limiting the franchise to about 200 new locations by 2009.

The Seattle-based company has said it will try to move employees affected by the closings into other stores.

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