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Is Chipotle Closing And Going Bankrupt? Let's Fact Check The Viral Rumors
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Is Chipotle Closing And Going Bankrupt? Let's Fact Check The Viral Rumors

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.

Read the Full Blavity Article at:
[ https://www.msn.com/en-us/money/general/is-chipotle-closing-and-going-bankrupt-let-s-fact-check-the-viral-rumors/ar-AA1BIqar ]