Boston Market, once a popular fast food chain with 1,200 restaurants, is now down to just 27 locations. The decline has been drastic, and the remaining days for these restaurants are numbered.
Four years ago, Jignesh Pandya's Engage Brands, LLC acquired Boston Market. Since then, the chain has faced numerous struggles. In December, Pandya personally declared bankruptcy, citing liabilities between $10-50 million. This included judgments against him related to another company he owns, Yum Brands, which faces an $11 million penalty tied to legal issues with Pizza Hut.
While Engage Brands was initially thought to be unaffected, it too is facing serious legal challenges. A court ordered the company to pay $15 million to its vendor, US Foods. Hundreds of others have also sued Boston Market and Engage Brands for unpaid debts. In one case, a court even ordered the brand's bank to hand over all funds to US Foods. However, the bank is unable to comply due to numerous other claims on the money.
Pandya attempted to file for Chapter 11 bankruptcy for Engage, but the court rejected his petitions. In April, he was barred from filing again until October. Meanwhile, Boston Market's headquarters has been seized over unpaid taxes. The company’s store locator is outdated, listing locations that have already closed. The few remaining Boston Markets are only open due to ongoing court issues.
The situation for Boston Market looks grim. Assuming proper filings are made in October, a Chapter 7 bankruptcy is likely, which would result in the immediate closure of all remaining stores.