SAN ANTONIO, Texas - Veteran-founded chain Black Rifle Coffee will be closing at least a dozen company-owned stores as a part of a broader effort to cut costs.

The closures were announced in a news release detailing the company's third-quarter financial results.

While overall revenue was higher, the company's quarterly net loss widened to $8. 7 million, compared to a net loss of $1. 2 million in the same quarter last year.