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Chipotle Shuts Down Bankruptcy Rumors, Plans Expansion
- Publish date: since 4 days
Chipotle Mexican Grill has denied online rumors about filing for bankruptcy and confirmed that it is moving forward with significant expansion plans.
A spokesperson for the company told 9NEWS that there are no plans to close any locations. Instead, Chipotle is preparing to open between 315 and 345 new restaurants this year, with most featuring the brand’s Chipotlane drive-thru concept.
“The false information came from an inaccurate online article that confused Chipotle with a separate venture the company tested in 2023. That story has since been corrected,” the spokesperson explained.
Financially, Chipotle remains strong. According to its latest earnings report, the company ended 2024 with no debt and over $2 billion in cash reserves. Total revenue for the year reached $11.3 billion, reflecting a 14.6% increase from 2023.
Chipotle CEO Scott Boatwright highlighted the company’s success, stating, “We had another outstanding year in 2024, with strong sales growth, higher margins, and over 300 new locations. We are focused on serving our guests and expanding our presence, with a goal of reaching 7,000 restaurants in North America.”
In addition to its expansion, Chipotle recently introduced Chipotle Honey Chicken across North America and Europe. The new menu item, which first launched as a test in Nashville and Sacramento, became the company’s most successful limited-time offer.
Despite the rumors, Chipotle continues to thrive, with no signs of slowing down.
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