A local chain of restaurants known in part for its burritos is apparently in a fight for survival right now.
According to an article in the Boston Business Journal, Boloco is currently seeking a buyer, looking for lines of credit, and is attempting to renegotiate leases, all in order to remain in business, with co-founder John Pepper saying in a memo to shareholders that "I've had over six months to come to peace with the likelihood that this won't end well, but I know most of you haven't....I realize that for some of you this is a significant disappointment and loss, and for that I am deeply sorry." The article mentions that only two of the seven locations of the chain are currently open--in Lynnfield and at Boston Children's Hospital.
Boloco's roots date back approximately 25 years, with the Boloco brand replacing "The Wrap" in 2005.
The website for Boloco can be found at http://www.boloco.com/
Thanks to Universal Hub for initially bringing this to our attention.
by Marc Hurwitz (Also follow us on Twitter at @hiddenboston)[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]
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