- Jamba (NASDAQ:JMBA) is closing "underperforming and cash flow negative Company stores" in the Chicago and New York markets. (8-K filing)
- As part of the closing, 104 employees (over 2% of Jamba's workforce) will be laid off. A $96K pre-tax restructuring charge is expected. Jamba also discloses chief marketing and innovation officer Julie Washington plans to resign; she'll stay on board until the end of April.
- The move comes with ~90% of Jamba's stores now franchise-owned.