TLDR:
- Foxtrot, a Chicago-based coffee and grocery chain, is set to reopen six stores this summer after closing its 33 locations in April 2024.
- Venture capital firm Further Point Enterprises acquired assets for 15 stores for $2.2 million and hired Foxtrot’s founder, Mike LaVitola, to revive the business.
Chicago-based coffee and grocery chain Foxtrot is planning to reopen six of its stores in the city this summer, following a recent acquisition by venture capital firm Further Point Enterprises. The assets for 15 of Foxtrot’s 33 stores were purchased for $2.2 million, with the chain’s founder, Mike LaVitola, leading the revival efforts. The reopening of the stores is expected to begin in August 2024, with negotiations currently ongoing with landlords. LaVitola has expressed a desire to explore opportunities to reopen the remaining nine sites acquired in Chicago and Texas later in the year. The acquisition did not include the two stores previously operated by Outfox Hospitality, which merged with Foxtrot in December 2023. The future of the remaining 18 Foxtrot stores that closed in April remains uncertain.
