January 1, Bakery Cooks Up a Remarkable Comeback Rising From Bankruptcy To Promising Comeback

The economic situation for American restaurants hasn’t been a walk in the park. Household names like Red Lobster and Rubio’s Coastal Grill are fighting tooth and nail against bankruptcy amid falling sales, numerous closures, soaring costs and other financial headaches. But out of the storm comes Corner Bakery Cafe, rising from the ashes of bankruptcy and making a promising resurgence.

This iconic bakery chain, most recently, breathed life into a Chicago outlet that had its doors closed back in 2020 due to the COVID-19 pandemic, according to Nation’s Restaurant News. Conveniently located near Union Station at 444 W. Jackson Blvd., this popular fast-paced restaurant now sports a patio, ordering kiosks, and a selection of grab-and-go items for our busy Americans on the run.

While other chain restaurants continue to struggle, Corner Bakery is opening their sixth Chicago store and 14th in Illinois, taking their overall locations to a commendable 101. Not too long ago, the chain’s future seemed dim with the company filing for Chapter 11 bankruptcy in February 2023 to restructure its massive debt. But in an encouraging turn of events, restaurant and real estate operator SSCP Management purchased the company just a few months later.

The new management didn’t waste much time and started transforming the Corner Bakery from the ground up. This included bringing on board new executive leadership, improving employee training, and enlisting the marketing agency Champion to strengthen its brand image. The fruits of their labor became evident when the chain reported an impressive average unit volume increase of $200,000 over a six-month span.

The reopening of their previously closed Chicago location further solidifies Corner Bakery’s comeback, adding to the revitalization success.

Erin Hasselgren, Corner Bakery Cafe President and a Chicagoan herself, expressed her excitement over this new chapter, stating she was “thrilled about bringing back this iconic and bustling location to life.”

Corner Bakery isn’t stopping at revitalizing its existing outlets. The chain plans to open another five to seven restaurants in 2024, a warm-up to the “accelerated growth trajectory beyond the current year.” They also intend to remodel the majority of their corporate-owned locations in the near future. Therefore, let’s stay tuned for a brand-new or upgraded Corner Bakery popping up in our neighborhoods!

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