Like a lot of business nationwide, Corner Bakery has struggled to find it's footing coming out of the pandemic.
As such, the Dallas-based company recently filed for Chapter 11 bankruptcy.
In October 2020, Corner Bakery was purchased by Philadelphia restaurant company Pandya Restaurant Growth Brands. At the time, there were 175 locations in the Corner Bakery portfolio.
However now, the company's website shows there are currently 140 locations throughout 20 states.
Frank Paci, Corner Bakery's CEO at the time it was sold, said the acquisition gave the company "access to resources that we need to continue to operate our business in this challenging environment," adding that the company "is now well-positioned to achieve future success during a period of unprecedented disruption for our industry."
Unfortunately,per the Dallas Morning News Corner Bakery defaulted its loans last year after "struggling with weakening sales and declining unit volumes," which even started before the pandemic.
The pandemic only exacerbated those issues since in-office workers made up a "significant" portion of its customer base.
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