A BELOVED bakery has shut its doors for good at one location after almost two decades due to financial struggles.
Corner Bakery in Brea, California closed up shop on the corner of Imperial Highway and South Brea Boulevard at 2pm on Thursday.
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The bakery which was once considered a rival to Panera Bread filed for bankruptcy back in February.
After collecting anywhere between $20million and $38million of debt and struggling with rising costs post-pandemic, the bakery's underperforming locations put a "burden" on the firm, according to Restaurant Business.
A staff member at the Brea location confirmed the closure to The Orange County Register.
However, with its other nearby locations still open, it seems that for now, they are safe.
The Brea closure means that it is a quiet part of the city following the closure of Taps Brewery last month which was located directly across the street from the bakery.
Corner Bakery was founded in Chicago, Illinois, in 1991 and specializes in breakfast dishes, pastries, breads, and gourmet sandwiches.
The company has more than 140 outlets, more than 40 of which are located in California.
Corner Bakery also has a presence in Texas, Colorado, Pennsylvania, Utah, Virginia, Maryland, DC, and Georgia.
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The chain had 161 locations at the end of 2021 but when investment firm Pandya Group bought Corner Bakery from Roark Capital in 2020, they also took on a staggering level of debt.
In 2022, Corner Bakery defaulted on its loans and it is hoped that the Chapter 11 filing will help save the company.
No official statement has been given as to the reason behind the Brea location closure.
The U.S. Sun has contacted Corner Bakery for comment.
Meanwhile, Boston Market is closing 27 stores in New Jersey as it is warned to "set a better example" following employee complaints.
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August 18, 2023 at 05:00PM
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