Boston Market, once deemed a worthy competitor in the fast-casual restaurant space, has suffered in recent years, and as delectable as that fall-off-the-bone rotisserie chicken might be, a lot has gone wrong for this once-prominent chain. Here are all the reasons Boston Market is disappearing.
In the early ‘90s, the chain then known as “Boston Chicken” rocketed to fame and fortune with an aggressive expansion strategy that was built on a house of lies. Essentially the company would loan money to potential franchisees, who would then use that money to pay the company a franchise fee, along with other costs, including interest on the loan.
The parent company then reported all this income as pure profit, leaving the franchisees to bear the burden of startup costs. As a result, individual franchises suffered while the home office reported record growth and profit. This allowed them to launch a stock offering in 1996 which saw the price of shares double in a single day, and then double again before the end of the year.
Since the profit model was based on constant expansion, you can guess what happened. The market reached saturation, struggling franchisees couldn’t repay their loans, and suddenly the whole thing collapsed. In 1998, the company declared bankruptcy and was forced to close over 700 locations.
#BostonMarket
Hub of the chickenverse | 0:16
Enter the Hamburglar | 1:10
A game of chicken | 1:53
Marketing missteps | 2:19
They’re pretty low on atmosphere | 3:05
The menu is old fashioned | 3:30
More info on The Real Reason Boston Market Is Disappearing Across The Country
-
Inside the Fight to #SaveOurStages: Independent Venues Struggle to Survive the Pandemic Year
Over the past year, independent venues have faced unique challenges in surviving the pandemic. The venues that have survived are hanging by a thread, held on the other end by the support of their ...
-
Webster turns to big bank M&A to address growth challenges
The Connecticut company has struggled to put deposits from its health savings account business to work across the Northeast. Buying Sterling Bancorp for $5 billion will provide Webster with new ...
-
How Bernard Goldberg’s dissenting conservative politics led to his exit from HBO’s Real Sports
Bernard Goldberg had been with Real Sports for more than 20 years, but announced his departure in February. Here's what went into that.
-
Cleaning Up the E-Waste Mess: Big Tech Needs to Do More
It’s unreasonable to expect that the problem of electronic waste—the smartphones, laptops, monitors, and TVs crowding landfills around the globe—can be solved at any scale by individuals. We need an ...
-
From luxury to starter home, hot real estate market leads to sellers' paradise in Newport
The low housing inventory in Newport is creating a seller's paradise on the island with multiple offers made on homes often above asking price.
-
Bohjalian on the pandemic, war and social injustice as “Hour of the Witch” draws nigh
Chris Bohjalian’s new novel Hour of the Witch “tolls on May 4,” as he notes. As is a beloved tradition at the Armenian Weekly, we had the opportunity to discuss the latest in his vast [...] ...
-
Athletic Brewing Expands Partnership with Spartan into Canada and the UK
BOSTON, April 9, 2021 /PRNewswire-PRWeb/ -- Leading nonalcoholic ... at 19:55 1health Works With Educational Institutions Across the Country to Bring Students, Faculty and Staff Back to the Classroom ...
-
The real reasons Kentucky failed to vaccinate Black residents as fast as white people
Despite making up about 8% of the state's population, Black Kentuckians represent about 4.9% of those who've received at least their first COVID shot.
-
After Pandemic, Shrinking Need for Office Space Could Crush Landlords
As office vacancies climb to their highest levels in decades with businesses giving up office space and embracing remote work, the real estate industry in many American cities faces a potentially ...
-
In U.S. Markets With Skyrocketing Home Prices but Sluggish Jobs Recovery, How Long Can the Heat Last?
In a gangbusters year for real estate markets across the U.S., resort towns and smaller cities—so-called “secondary markets”—have been some of the biggest winners, seeing an influx of well-off buyers ...
-
WORSENING UNEMPLOYMENT: Why jobs are disappearing in Nigeria, by experts
Unemployment rate in Nigeria rose from 27.1 percent to 33.3 percent from December to March 2021, according to the National Bureau of Statistics, NBS.
-
Coronavirus Today: The vaccination effort’s boots on the ground
Latino Californians have the highest rate of employment in essential front-line jobs, where there’s a higher risk of exposure, and in L.A.’s high-priced housing market ... Spaniards can’t travel ...