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2023 saw many retailers shut down or close locations. Bed, Bath & Beyond, Tuesday Morning and Christmas Tree Shops have had to shutter all their stores after declaring bankruptcy, while Sears, Pizza Hut, CVS, Foot Locker and Walgreens are closing down locations as a cost-cutting measure. Well Boston Market has been following suit, but it hasn't been voluntary, and that's part of the reason the chain's owner has just filed for bankruptcy.
In April of 2020, Engage Brands, LLC acquired Boston Market. That company is part of the Rohan Group, which is owned by Jignesh Pandya, who just declared bankruptcy personally. Pandya claims liabilities in the range of $10-50 million dollars, in part due to judgements against him, including one against another company he owns, Yum Brands, which is facing an $11 million penalty over legal issues with Pizza Hut locations.
Meanwhile, Boston Market has been struggling with its own troubles. Along with closing locations, their headquarters were seized due to $300,000 in unpaid taxes, and recently, officials in New Jersey ordered the closure of 27 stores in the state after regulators uncovered "multiple violations of workers' rights" like failure to pay wages. The chain was also fined around $26 million for that. There are other outstanding lawsuits against Boston Market as well for failing to pay vendors.
As yet, only Pandya has declared bankruptcy, not the chain itself, however the court will decide if Boston Market can continue to operate based on if it is in the best interest of Pandya's creditors. The restaurant, which launched in 1985 and grew to over 1,200 locations at its peak, is now down to fewer than 300, and their fate remains uncertain.