NYC Company Buys Nearly 100 Beleaguered Le Pain Quotidien Outposts for $ 3M

Struggling bakery and cafe chain Le Pain Quotidien has sold all of its 98 United States locations for just $3 million to New York-based food brand Aurify, which operates other fast-casual spots like the Melt Shop, Fields Good Chicken, and the NYC locations of Five Guys.

Aurify plans to reopen at least 35 LPQ locations in the U.S., though initial reports did not say how many would be in NYC. Eater has reached out for details. The office lunch chain, which has been struggling for years now due to increased competition from places like Pret a Manger and Dig, closed all of its locations after the novel coronavirus pandemic hit in March, and laid off all of its nearly 2,500 staffers.

In April, reports emerged that the company was planning to permanently close 19 locations across the U.S., including five in Manhattan. And on Wednesday, the U.S. arm of the Belgian company filed for chapter 11 bankruptcy protection, with court filings revealing that LPQ had planned to do so even before the pandemic hit. The company reported a $17 million loss on $153 million in sales in the U.S. last year.

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