The Decline of Boston Market: Why the Chain That Sparked the Rotisserie Chicken Craze Has Closed Dozens of Stores
August 22, 2023
Boston Market, once a pioneer in the rotisserie chicken craze, is facing financial struggles, including lawsuits over unpaid bills, store closures, and state fines for unpaid wages. The chain, which had around 1,200 locations at its peak, has seen a decline in recent years, closing 161 stores between 2017 and 2022 and about 50 more so far in 2023. The recent closure of 27 locations in New Jersey was prompted by a state probe that found the chain owed over $600,000 in back wages to employees, resulting in a $2.6 million fine.
Recent News
Tesla Faces Uphill Battle with Shareholder Votes
In a bid to navigate the treacherous terrain of shareholder approval, Tesla’s chairperson, Robyn Denholm, likened the challenges ahead to scaling “Mount Everest.” This revelation comes amidst the looming votes on relocating Tesla’s headquarters to Texas and ratifying CEO Elon Musk’s staggering $56 billion compensation plan. Denholm’s remarks, as reported by the Financial Times on Friday, shed light on the uphill battle the electric vehicle giant faces in its quest for shareholder support.
Media Giants Depend on Sports As Content Shortages Rise
As Hollywood emerges from last year’s strikes, major media companies are turning to live sports to attract audiences and advertisers. This trend was evident during this year’s Upfront presentations, where media giants showcased their upcoming content and advertising opportunities.
New Trader Joe’s Opens in SF After 10 Years
San Francisco’s Hayes Valley neighborhood welcomed a highly anticipated new addition on May 17, 2024, with the grand opening of a Trader Joe’s at 555 Fulton St., on the corner of Laguna Street. This event marks the end of a decade-long wait for residents who have been eagerly looking forward to a new grocery store in their area.
China’s Property Market Boost: Stocks Surge, Copper Hits Highs
The Chinese government unveiled a comprehensive support package that has sent ripples through financial markets. This initiative includes a slew of measures aimed at stimulating housing demand and addressing the excess inventory burdening developers. The immediate impact was a significant rally in Chinese stocks and a surge in commodity prices, notably copper, which hit record highs.