Cosi Headed For Mass Sell-Off
The fast-casual café chain Cosi Inc, which recently filed Chapter 11 and was kicked off the Nasdaq, is seeking buyers for “substantially all of its assets,” the Boston-based company said this week. Cosi closed 29 stores just before filing for bankruptcy; 76 Cosi restaurants are still in operation, reports the Boston Business Journal. Bidding procedures and a sale schedule, which are pending approval of bankruptcy court, will be available around Oct. 20.
Some 45 of those locations are company-operated restaurants in leased space in the urban cores of Boston, Chicago, New York and Philadelphia, along with a number of spots in Connecticut, Maryland, New Jersey, Virginia and Wisconsin. The 31 franchised locations include restaurants in Washington, DC, Costa Rica and the UAE. Cosi's HQ is in leased space at 294 Washington St in Downtown Boston. [BBJ]
