6 days Ago
Chipotle is putting the rumor mill to rest. On March 20, rumors that fast-casual chain Chipotle was closing due to bankruptcy percolated all over social media. Fans of the burrito and bowl chain took to X, , and elsewhere to express their shock — but all is not what it seems.
“chipotle is closing. wtf,” one X user on March 20. “i’m still confused on how chipotle is going bankrupt,” another user.
“Chipotle is closing all restaurants & is declaring bankruptcy,” one more. “The number of businesses declaring bankruptcy is very eerie.” People really ran with it on TikTok, with videos discussing the rumored closures littering the hashtag .
“Chipotle I’m not trying to punk your a--, but y’all goin’ bankrupt, what the f--- y’all do with the money?” one confused TikToker in a video with over 160,000 views. Chipotle tells TODAY.com, however, that rumors are completely false.
The chain, which has , says the erroneous information stemmed from an online article that confused Chipotle with a venture it tested in 2023. The article at the source of the rumor mill was on March 20. The outlet, based in Madrid, Spain, wrote about the closure of , a farm-to-table spinoff concept Chipotle had invested in whose one location .
According to , the main image of the article was previously the Chipotle logo, which may have led to the confusion. A TikTok user , titled, “Say goodbye to this popular US fast food chain — all restaurants will close due to bankruptcy.” Representatives for Unión Rayo did not immediately respond to TODAY.
com’s request for comment. The article has been updated with a new headline. A Chipotle representative says that the chain plans on opening between 315 to 345 new restaurants this year, with at least 80% including a .
Chipotle also points out that its indicated zero debt and over $2 billion in cash reserves, and that its total revenue was $11.3 billion for 2024, an increase of 14.6% compared to 2023.
Breathe a sigh of relief: your burrito bowl with extra guacamole is safe. Joseph Lamour is the food reporter at TODAY.com and is based in Washington D.
C..
