Business & Tech
Newtown Cosi Closes As Company Declares Bankruptcy
The Newtown location is no longer listed on the company's website as being in operation.
The Cosi cafe in Newtown has closed, company officials confirmed. The Massachusetts-based company this week filed for Chapter 11 bankruptcy and has closed 29 locations nationwide.
"The decision to close this restaurant was based on its financial performance and market density. At this time, we do not have any plans to reopen this restaurant," the company said in an email.
Multiple calls to the Pheasant Run cafe went unanswered Thursday. Patrons who frequent the fast-casual restaurant emailed Patch noting the sudden closure.
Find out what's happening in Newtownfor free with the latest updates from Patch.
It's the second Cosi restaurant in recent years to close in Newtown. There used to be a Cosi cafe next to Jules Thin Crust on Sycamore Street. That location closed in 2012.
According to the company's Chapter 11 filing announcement, 29 of its 74 restaurants have closed this week.
Find out what's happening in Newtownfor free with the latest updates from Patch.
"The plan outlines a fast-track process that will allow Cosi to emerge from the restructuring under new ownership and with an improved financial position and stronger brand," the announcement said.
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