Bagel chain to remain in business
From Staff Reports
Don’t worry,
the West Lafayette Einstein Bros. bagel company on Northwestern Avenue
isn't going anywhere.
At least not for
now.
Recent reports of
financial difficulty and extraordinary debt graced newspaper headlines
across the country after the Golden, Colo. — based company, which
has 539 stores nationwide, released its annual financial statement.
According to Anita
Marie Hill, director of communications for Einstein Bros., the auditors
had concerns about the "company going forward."
Media across the
country picked up the story and said the company might not have enough
money to keep operating.
One director with
the company said the rumors were "absolutely not true." But Hill said
the company does have a lot of debt from previous management.
Einstein Bros. closed
14 stores in the past year, but sales rose one percent to $375.5 million
from $371.9 million. The company's shares have fallen 79 percent in the
past year, and the auditors said the company might not have enough money
to make interest payments on debt.
But Hill said Einstein
Bros. is not closing any stores right now, and the West Lafayette branch
is in no danger.
"Our business is
doing quite well, and our operations are healthy," said Hill.
Local Einstein Bros.
manager Angie Beuerman said the store is more than fine. "From what we've
been told, it had nothing to do with us. There's no problem."
The local Einstein
Bros. opened on Northwestern Avenue three years ago and was the first
bagel establishment in West Lafayette.
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