Mass.-based vegetarian restaurant chain Clover to shut down
WBUR • • business
Key Points:
- Clover Food Lab, a veggie-focused restaurant chain in Greater Boston, will close all 11 locations after 17 years, resulting in about 170 employees losing their jobs.
- The company filed a layoff notice in March and cited the lingering impacts of COVID-19 and inflation, with ingredient costs rising 30 to 50% over two years, as key reasons for closure.
- Founded as an MIT food truck by Ayr Muir, Clover expanded to multiple brick-and-mortar locations and offered locally sourced vegetarian dishes and a meal box delivery service.
- Clover filed for Chapter 11 bankruptcy in 2023 due to low sales, high rent, and funding challenges post-pandemic, and despite exiting bankruptcy with plans to expand, it ultimately decided to shut down completely.
- The company acknowledged the difficulty of raising prices amid customer budget concerns and highlighted the thin margins and economic pressures facing the restaurant industry.