Starbucks to close 61 shops in Australia

Starbucks is closing more than two-thirds of its coffee shops in Australia.

The Seattle-based global coffee franchise company announced Tuesday that it would shut the doors of 61 stores by the end of the week, leaving just 23 cafes operating in three major cities.

The closures in Australia follow the announcement earlier this month that Starbucks would close 600 company-owned stores in the United States in an effort to bolster its business.