The popular Boston-based fast-food restaurant chain filed for Chapter 11 to stabilize and restructure its business.
drug retailer Walgreens. Tough competition, however, wasn't what pushed Rite Aid over the edge, as potential liability from a Department of Justice civil lawsuit, which it filed against the company in March 2023, forced Rite Aid to file.
Some struggling restaurant chains are able to close underperforming locations without filing bankruptcy. In June, vegan/vegetarian fast-casual restaurant chainclosed six of its restaurant locations in California citing reduced demand for its fast-casual dining offering from a shift to hybrid work models, the company's CEO T.K. Pillan said in an email to Patch.
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Boston eatery chain Clover Food Lab files for bankruptcyBoston-based vegetarian fast food chain Clover Food Lab filed for Chapter 11 bankruptcy Friday, according to court records. The company's filing in federal bankruptcy court in Delaware cited low sales, high rent and lack of funding as reasons for the bankruptcy filing.
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