"Clover Food Lab is seeking a new buyer, the company told Boston.com on Tuesday, a move that surfaced as the vegetarian fast-casual chain filed a state notice on Monday announcing plans to lay off 182 workers."
"In 2008, founder Ayr Muir used his MIT engineering background and Harvard Business School training to launch Clover as a single food truck offering vegetable-forward meals meant to win over meat eaters, which slowly grew over time."
"Clover filed for bankruptcy protection in 2023, blaming rising costs, slow sales, and difficulty in raising money from investors."
"The leadership team also said that it planned to add 50 more locations across New England over the next five years."
Clover Food Lab is looking for a buyer after stabilizing its business following bankruptcy. The vegetarian fast-casual chain announced plans to lay off 182 workers while complying with state regulations. Founded in 2008, Clover grew from a food truck to 11 restaurants, a meal box delivery service, and catering. The company filed for bankruptcy in 2023 due to rising costs and slow sales. After emerging from bankruptcy in 2024, Clover aims to expand by adding 50 locations in the next five years.
Read at Boston.com
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