Is Chipotle about to close its doors? Here’s what the company says
- Chipotle refuted rumors that began around March 20th regarding bankruptcy and restaurant closures, confirming they are false and that the chain has plans to open new restaurants this year.
- The rumors stemmed from an inaccurate online article published on Unin Rayo that confused Chipotle with a venture it tested in 2023, and the article has since been corrected.
- Chipotle plans to open between 315 and 345 new restaurants this year, with at least 80% including a Chipotlane drive-thru.
- Chipotle's Q4FY2024 earnings call indicated zero debt and over $2 billion in cash reserves, with total revenue for 2024 reaching $11.3 billion, a 14.6% increase compared to 2023.
- CEO Scott Boatwright stated that Chipotle aims to reach 7,000 restaurants in North America, grow AUVs beyond $4 million, expand margins, and become a global iconic brand, focusing on serving both guests and those who serve the guests.
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23 Articles
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Total News Sources23
Leaning Left4Leaning Right2Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
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