Tully's explores its options

SEATTLE Tully’s Coffee Corp. has hired investment banking firm D.A. Davidson & Co. to explore “strategic alternatives” that could include a sale of the struggling 142-unit chain.

The move follows a management restructuring last month, during which Carl Pennington Sr., a former grocery chain executive, was named president. Pennington replaced John Buller, who resigned along with chief executive and chief financial officer Kristopher Galvin.

Tully’s has

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