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Einstein Bros Bagels In Andersonville Closing, Company Downsizes Nationwide

Einstein1On Tuesday, February 24, Einstein Bros Bagels at 5318 N Clark St. will be closing its doors for good.  In an effort to downsize and eliminate the restaurants that are not performing well, the Andersonville store will be among other Chicagoland locations which are also expected to be closing. Nationwide, Einstein Bros Bagels will be shuttering 39 stores.

In a statement released by the company, they said, “After careful evaluation, Einstein Noah Restaurant Group, Inc. (“ENRGI”) has come to the difficult decision to close 39 underperforming restaurants, effective Tuesday, February 24, 2015. The company will continue to focus on its high-performing restaurants to ensure the future growth and success of the business. ENRGI values the continued support of its customers, and the dedication and hard work of all its employees.”

Though the company says that they will try to work with relocating workers of the shuttered stores, one employee of the Andersonville location who has been with the company since 2008, let us know that the employees have in fact all been laid off.

Formed in 1995, Einstein Bros Bagels was the corporate answer to the nineties bagel craze. They quickly started buying up smaller chain bagel restaurants throughout the country only to go into bankruptcy in 2000 because of too much debt. It was then that New World Coffee bought the company out of bankruptcy for $190 million.

As of 2012, there were 773 Einstein Bros Bagels stores throughout the country. Last year the company was then again purchased by its current owner JAB Holding Co. (Peet’s Coffee & Tea Inc.) for about $364.5 million.

 


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