Così (restaurant)

Così
NASDAQ: COSI
Formerly
 Xando, Xando Cosi
Industry fast-casual restaurants
Founded New York City, United States (1996)
Headquarters Boston, Massachusetts, United States
Number of locations
 71 (October, 2016)
Key people
 RJ Dourney (CEO)
Website www.getcosi.com
Cosi on South Michigan Ave, Chicago, Illinois

Così, based in Boston, Massachusetts, is a fast-casual restaurant chain that is known for its homemade flatbread. The name comes from the opera Così fan tutte, which was a favorite of the original owner.[1]

Corporate history

The original Così restaurant was based on a small cafe in Paris, France. Cosi was founded in the United States in 1996, and there are currently over 100 locations in the continental United States, Costa Rica, and the United Arab Emirates. In October 1999, Così merged with the cafe/bar chain XandO (formerly ZuZu).[2] Così's peak traffic was during the lunch hour, while XandO did heavy business in the evenings, allowing the two companies to complement each other's strengths. Cosi restaurants are open for breakfast, lunch, and dinner.

Cosi implemented a loyalty program in 2007.

In June 2010 Così sold its District of Columbia stores to Capitol C Restaurants who will run them under a franchise agreement.[3] Capitol C is the owner of Qdoba Mexican Grill.[4]

In March, 2014 Cosi's largest and most successful franchisee, RJ Dourney was voted by Cosi's board of directors to the position of CEO and Director.[5][6]

In September 2016 the company filed for Chapter 11 bankruptcy reorganization, and announced that a group headed by one of its lenders would serve as a stalking horse bidder.[7] It also closed 29 of its 74 company-owned units. On October 11, 2016, Cosi announced that it is seeking buyers for "substantially all of its assets."[8] As of October 2016, 71 Cosi locations remained in operation.[9]

See also

References

  1. ↑ "Frequently Asked Questions". Così. Archived from the original on 2009-11-04. Retrieved 2009-11-12.
  2. ↑ Karyn Strauss (1999-10-04). "Xando-Cosi merger seen as target for larger audiences". Nation's Restaurant News. Archived from the original on 2010-08-19. Retrieved 2009-01-23.
  3. ↑ "Cosi sells 13 Washington, D.C., restaurants for $8.4M". Fastcasual.com. April 27, 2010. Retrieved 4 April 2015.
  4. ↑ "About Us". Così. Archived from the original on 2009-10-20. Retrieved 2009-11-12.
  5. ↑ Lublin, Joann (24 June 2014). https://www.wsj.com/articles/rookie-ceos-face-a-steep-learning-curve-1403656894. Missing or empty |title= (help)
  6. ↑ Wohl, Jessica (16 April 2014). "Cosi moving from Deerfield to Boston". Chicago Tribune. Retrieved 4 April 2015.
  7. ↑ Maze, Jonathan (28 September 2016). "Così files for bankruptcy". Nation's Restaurant News. Retrieved 28 September 2016.
  8. ↑ Carlock, Catherine (11 October 2016). "After bankruptcy and delisting, Cosi offers all assets for sale". Boston Business Journal. Retrieved 12 October 2016.
  9. ↑ "Archived copy". Archived from the original on 2016-10-24. Retrieved 2016-10-24.

Further reading

  • Chesto, Jon (March 18, 2015). "Moving to Boston is Così's recipe for success". The Boston Globe. Retrieved 4 April 2015.
  • Morgan, Richard (January 8, 2015). "Restaurant chain Cosi cooks up 28% jump in stock price". New York Post. Retrieved 4 April 2015.
  • York, Emily Bryson (June 13, 2013). "Cosi looks to new leader, fewer stores". Chicago Tribune. Retrieved 4 April 2015.
  • MacArthur, Kate (February 26, 2011). "After one profitable quarter in eight years, can CEO of Così sandwich shops do it again?". Crain's Chicago Business. Retrieved 4 April 2015.


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