Once-Popular Food Chain Reported to Be ‘Near Death’ After Failed Bankruptcy

We're only a third of the way into 2024 and the year has already proven to be rough on the retail and restaurant industry.

Both sectors have already seen several chains closing shop while others have permanently shuttered underperforming locations.

Now, what was once one of the first fast-casual restaurants could be in its final days.

Rapid Growth In The 1990s

In the 1990s, families found themselves looking for alternatives to home-cooked meals that wouldn't be the usual burger and fries from a fast food joint.

Then, Boston Market arrived with its rotisserie chicken and comfort food-inspired sides.

The brand grew quickly across the U.S. with Boston Market frozen meals even hitting local grocery stores.

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Restaurant Business says while the chain was popular, it "grew too quickly" resulting in a bankruptcy filing.

Down, But Not Out

Following the initial bankruptcy filing, some locations were sold to McDonald's while others continued to carry the Boston Market name.

As was the case with other chains, Boston Market was dealt yet another blow during the pandemic in 2020.

READ MORE: This Popular McDonald's Burger Has Jumped In Price 168% In Past 10 Years

"Boston Market after that stopped paying bill without steep discounts," Restaurant Business reported. "The chain has been sued more than 150 times since then in a variety of state and federal courts, mostly over unpaid bills, including lawsuits from current and former employees.

A couple years later, The Street says Boston Market had its headquarters seized by the Colorado Department of Revenue for unpaid taxes. What was once more than 1,000 Boston Market locations had been whittled down to less than 30 coming into 2024.

A story recently published by The Street said the chain is "near death" after a second attempt at filing for bankruptcy was denied. The current owner of the chain also has been barred from filing again for at least six months.

"Any remaining franchises that are open are likely operating without any support from corporate," the outlet said.

Here is a closer look at what recognizable chains have closed or are planning to close in 2024.