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An undisclosed number of Coco's Bakery and Carrows restaurants closed this week, as the acquisition of the two family-dining concepts by Food Management Partners was completed, the company said Thursday.
Rumors of layoffs and restaurant closures began to circulate on Wednesday, and FMP officials confirmed Thursday in a statement that restaurant closings are part of the company's plan, but they did not confirm the number of units impacted or any other details.
"The current market climate has forced us to make difficult decisions about many of our restaurants that are not performing at a competitive financial level. After extensive review, we have developed a plan that we believe will enable the parent company of Coco's and Carrows, Catalina Restaurant Group, to make the two brands...