Chipotle Denies Rumors of Bankruptcy and Restaurant Closures

Chipotle is putting an end to online rumors claiming the popular fast-casual chain is going bankrupt or shutting down locations.

“The claim that Chipotle is closing restaurants is false,” a company spokesperson told Good Morning America in a statement. The confusion appears to have stemmed from an inaccurate article that mistakenly linked the brand to a separate venture it tested in 2023. That article has since been corrected.

In fact, Chipotle is expanding—not shrinking. The company says it plans to open up to 345 new restaurants in 2025, with its popular “Chipotlane” drive-thru included in at least 80% of those locations.

Chipotle ended the fourth quarter of 2024 with no debt and over $2 billion in cash reserves. The company reported $11.3 billion in revenue last year, marking a 14% increase from 2023.