Overview
- Clover announced on May 26 that it would close its 12 remaining restaurants and kiosks and expected roughly 170 layoffs after years of financial strain.
- Company leaders said an anonymous “mission‑aligned” investor provided emergency funding after the wind‑down and that a limited set of Boston and Cambridge locations will reopen on June 9 with a reduced menu.
- The rescue deal’s size, the investor’s identity, which stores will reopen and how many employees will be rehired have not been disclosed by management.
- Clover is shrinking operations by winding down its 10,000‑square‑foot East Cambridge commissary, shifting kitchen prep to stores and rebuilding inventory after selling out during the shutdown.
- The chain’s troubles stem from a prior Chapter 11 that listed about $792,000 in assets and $3.85 million in liabilities, rising ingredient costs of roughly 30–50 percent, high lease costs and weaker office lunch demand, leaving its long‑term viability uncertain and local suppliers and staff at risk.