Chipotle Execs Address Unfounded Bankruptcy Rumors

Chipotle has been the target of unfounded bankruptcy rumors, and now, company executives have taken to the press to address them once and for all.

NBC 9 is reporting that executives have confirmed, via a statement, that the internet rumors surrounding the casual dining chain’s impending bankruptcy are just that: rumors.

“The false information stemmed from an inaccurate online article confusing Chipotle with a venture it tested in 2023. The story has since been corrected,” said a spokesperson in an exclusive statement to the outlet. “We anticipate opening between 315 to 345 new restaurants this year, with at least 80% including a Chipotlane.”

“[The company’s] Q4FY2024 earnings call indicated zero debt and over $2 billion in cash reserves,” the statement continued. “Total revenue for 2024 was $11.3 billion, an increase of 14.6% compared to 2023.”

Even the CEO, Scott Boatwright, appeared to address the rumors in a news release. “Chipotle had another outstanding year [in 2024], delivering strong transaction driven comps each quarter, expanding margins, adding over 300 new restaurants, gaining momentum in key industry leading brand metrics, making progress on many restaurant operating initiatives and building our footprint internationally,” he said.

“I want to make sure that as we continue to scale Chipotle, everything we do is in service of our guests or those who serve our guests which will enable us to achieve our long-term ambitious goals of reaching 7,000 restaurants in North America, growing our AUVs beyond $4 million, expanding margins and making progress toward becoming a global iconic brand,” he continued.

Chipotle Recently Partnered with the Women’s USC Basketball Team

Earlier this month, the popular Tex-Mex-inspired fast-food chain partnered with the USC Basketball Team for a unique promotion.

According to a press statement released to RetailWire, this marks the first time Chipotle has released a digital menu inspired by the entire staff. During the team’s tournament run, only the app and website will provide access to all 15 distinct dishes.

The fast-food behemoth is overjoyed with its collaboration with the USC women’s basketball team, which has proven to be extremely beneficial to the brand.

“Each new entrée on the ‘Fight On Menu’ represents how these elite athletes trust Chipotle for proper nutrition, especially as their collective intensity ramps up in March,” said Chris Brandt, chief brand officer at Chipotle, in a statement. “This sisterhood of the USC women’s basketball team and each player’s drive to be the absolute best version of themselves are reasons why they are a real championship contender.”