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Court stops Starbucks from closing Teavana stores in 77 Simon properties

The judge at Marion County Superior Court in Indiana sided with Simon Property Group Inc.'s petition and granted a preliminary injunction to stop Starbucks Corp. from closing its Teavana stores at 77 of the landlord's properties, The Wall Street Journal reported.

Starbucks was also prohibited from conducting any going-out-of-business sales in the said Teavana locations. The leases extend up to 2027 except for two that are expiring before the spring of 2018, according to the Dec. 5 report.

Back in July, the coffee giant announced it would shutter all of its 379 Teavana stores due to weak performance. Simon filed a lawsuit in August, seeking a preliminary and permanent injunction to keep Starbucks from closing the stores before its leases expire.