Chipotle refutes bankruptcy rumors, plans to open more restaurants

NEWPORT BEACH, Calif. -- Chipotle is shutting down rumors that the Mexican grill restaurant chain is going bankrupt and closing restaurants.

"The claim that Chipotle is closing restaurants is false," a spokesperson for Chipotle told "Good Morning America" in a statement. "The false information stemmed from an inaccurate online article confusing Chipotle with a venture it tested in 2023. The story has since been corrected."

Chipotle said it plans to open up to 345 new restaurants in 2025. The company also said it plans to include a Chipotlane -- the chain's drive-thru model -- in at least 80% of the new restaurants.

Additionally, Chipotle reported zero debt and more than $2 billion in cash reserves at the end of the fourth quarter of fiscal year 2024, with $11.3 billion in total revenue in 2024, up over 14% compared to 2023.

Chipotle, known for its bowls, burritos, quesadillas and tacos, currently has over 3,700 restaurants across 49 states in the U.S. and abroad, including Canada, France, Germany, the U.K., Kuwait and the United Arab Emirates.