Rumors of Chipotle Mexican Grill filing for bankruptcy and closing restaurants this year have spread on social media, sparking concern among users about the popular fast-casual chain.
The article from MSN addresses the viral rumors about Chipotle Mexican Grill potentially closing and going bankrupt. It clarifies that these rumors are unfounded; Chipotle is not facing bankruptcy nor planning to close its stores. Instead, the company reported a significant increase in revenue and earnings for the first quarter of 2023, with a 17.2% rise in revenue to $2.4 billion and a 84.1% increase in earnings per share. Chipotle has also been expanding, with plans to open more locations in 2023. The rumors seem to stem from a misinterpretation of Chipotle's CEO discussing the challenges of inflation and rising costs, but these are common industry issues and not indicative of financial distress. The article emphasizes that Chipotle remains a strong and growing brand in the fast-casual dining sector.
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