It’s been a nerve-wracking few days for Chipotle lovers. Rumors began swirling that the fast-casual Mexican food chain went bankrupt and planned to close locations across the United States. A Chipotle spokesperson wants to put the rumors to bed and tell fans they are not going bankrupt. In a statement shared with media outlets, including USA Today, Chipotle spokesperson Erin Wolford said, “false information stemmed from an inaccurate online article confusing Chipotle with a venture it tested in 2023.” The article recently ran in the International Publication Union Rayo. That article confused Farmesa Fresh Eatery, a concept by Chipotle test marketed in a Santa Monica, California food hall in 2023. Per NBC News, the concept closed in 2024
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Chipotle Is The Opposite Of Bankrupt—It’s Expanding
Wolford said Chipotle is not bankrupt, but plans to expand and will also include something new. “We anticipate opening between 315 to 345 new restaurants this year with at least 80% including a (digital drive-thru) Chipotlane.”
According to a news release, 2024 was great for Chipotle, and the brand saw much success.
“Chipotle had another outstanding year, delivering strong transaction-driven comps each quarter, expanding margins, adding over 300 new restaurants, gaining momentum in key industry leading brand metrics, making progress on many restaurant operating initiatives and building our footprint internationally,” said Scott Boatwright, CEO, Chipotle. “I want to make sure that as we continue to scale Chipotle, everything we do is in service of our guests or those who serve our guests which will enable us to achieve our long-term ambitious goals of reaching 7,000 restaurants in North America, growing our AUVs beyond $4 million, expanding margins and making progress toward becoming a global iconic brand.”
To prove further Chipotle isn’t bankrupt, the brand announced it will celebrate National Burrito Day on April 3 with the return of the Burrito Vault. Fans can visit unlockburitoday.com between March 31 and April 2 for a chance to win free food.
This story’s featured image is by Tada Images via Shutterstock.
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