As of now, Argo Tea has not officially announced plans to go out of business, but it has faced financial challenges and store closures recently.
Argo Tea, once a thriving chain with over 26 locations, has undergone significant changes in recent years. While the brand isn’t completely gone, its business model has dramatically shifted from company-owned cafes to licensed campus locations.
What Happened to Argo Tea?
Argo Tea faced multiple ownership changes and financial challenges:
- 2020: Sold to Golden Fleece Beverages who focused on retail distribution
- 2021: Golden Fleece filed for Chapter 11 bankruptcy
- 2023: Acquired by Planting Hope Company
The company closed most of its traditional retail locations during these transitions. As of 2024, only licensed campus cafes remain operational.
Current Argo Tea Operations
Planting Hope now manages Argo Tea through:
| Asset Type | Details |
|---|---|
| Campus Licenses | 8 locations operated by foodservice providers like Aramark |
| Inventory | $600,000+ in existing product stock |
| Supplier Agreements | Contracts with major foodservice operators |
Why Did Argo Tea Locations Close?
Several factors contributed to Argo Tea’s retail decline:
1. Changing Consumer Preferences
The tea market shifted toward ready-to-drink options and specialty tea shops. Argo struggled to compete with brands like Teavana (before its closure) and local tea houses.
2. Financial Struggles
Golden Fleece’s bankruptcy filing in 2021 signaled deeper financial issues. The pandemic accelerated challenges for physical tea shops.
3. Ownership Changes
Each acquisition brought new strategies – from retail focus to campus licensing – creating instability in the brand direction.
Where Can You Still Find Argo Tea?
While most standalone locations have closed, some options remain:
College Campus Locations
Eight licensed cafes continue operating on university campuses through foodservice providers. These are primarily in high-traffic student areas.
Potential Future Expansion
Planting Hope may license the brand to new operators, though no major expansions have been announced. The company appears focused on their plant-based beverage lines.
Argo Tea vs. Competitors
How Argo’s current state compares to similar brands:
| Brand | Status | Differentiator |
|---|---|---|
| Argo Tea | Limited campus locations | Licensed model |
| Teavana | Closed (2018) | Former mall presence |
| David’s Tea | Online + select retail | Strong e-commerce |
What This Means for Tea Lovers
While Argo Tea’s retail presence has diminished, the brand still offers:
- Specialty tea blends at remaining campus locations
- Potential for future licensed cafes
- Legacy recipes that may inspire new operators
For those missing Argo’s offerings, exploring cold brew tea alternatives or local tea houses can provide similar experiences.
The tea market continues evolving, with premium and specialty options gaining ground. While Argo Tea’s future remains uncertain, its innovative approach to tea service influenced many modern tea concepts.
