Chipotle Closing 65 Locations in 2018

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Chipotle (NYSE:CMG) is planning to close down 65 stores sometime in 2018.

Chipotle Closing 65 Locations in 2018

The news comes after the company held a closed-door meeting to discuss its plans for the future. One of its goals outlined during this meeting was the closing of these stores as it looks to restructure its business.

Chipotle has yet to release a list of the locations that it will be closing down this year. This also means that the company hasn’t provided specific dates for when the locations will be closing up shop.

While the exact locations that Chipotle will be closing down remain unknown, there are a few locations that reports claim are among the casualties. This includes five of the pizza stores that the chain operates, reports Delish.

Chipotle did make an official announcement about its restructuring plans earlier this week. The company notes that among these plans are changes to how it operates and its culture. The chain looks to be switching focus to in-app orders and deliveries to draw in more customers.

Other efforts to draw in more customers include making changes to its menu. Chipotle is planning to test out a few new menu items before hopefully bringing them to the rest of its locations. These new menu items that it is testing out include quesadillas, nachos, chocolate milkshakes, Avocado Tostadas and updated salads. There’s still no word on when exactly customers can expect these new menu items to show up at their local stores.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/06/chipotle-closing-65-stores/.

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