Cosi in the Newtown Business Commons
Credit: Google Maps
The Cosi in the Newtown Business Commons has closed.
According to NewtownPANow.com readers, the eatery on Pheasant Run Road in Newtown Township was closed for business Wednesday and Thursday. Multiple calls to the fast-casual restaurant were not answered.
On Wednesday, Cosi announced that it had filed for bankruptcy and began the process to sell itself.
The Boston-based chain closed 29 of its 74 company-owned restaurants this week. Roughly 30 franchised locations will remain open.
“This was a difficult step, but it was necessary to address our liquidity issues,” Interim CEO Patrick Bennett told MarketWatch.
The CEO told the website the company hopes to carry out a restructuring plan.
Newtown previously was home to two Cosi restaurants, but the location in Goodnoe Corner closed in 2012.
