"We have always used high quality ingredients and prepared them using classic cooking techniques," Chipotle Founder and CEO Steve Ells said in a statement Tuesday highlighting the chain removing preservatives from its tortillas. Ells may want to consider refraining from dissing rival fast food chains until Chipotle stabilizes its own business. While Wedbush analyst Nick Setyan views Chipotle going "clean" with its food as a way to "get them back on the right path," he told TheStreet that challenges still lie ahead for the company.
Discount footwear chain Payless ShoeSource is allegedly planning to file for bankruptcy protection under Chapter 11 as soon as next week, and plans to close 400 to 500 stores, according to a report Wednesday morning by Bloomberg. In February, it was reported that Payless would close 1,000 stores, and, in January, the company announced the elimination of 150 employees. Facing $650 million in debt, Payless, which was taken private by private equity firms Golden Gate Private Equity and Blum Capital Partners in a 2012, $2 billion buyout of parent company Collective Brands, is increasingly facing a grim outlook.
World Wrestling Entertainment (NYSE: WWE) has made two deals that give the company access to lucrative markets. Through the first, a partnership with StubHub, the company will now profit from the secondary ticket market. Its second agreement, with PPTV in China, will bring WrestleMania live to a country that WWE would desperately love to become a player in. What is the StubHub deal? Many sports leagues have attempted to control how fans resell tickets they don't want to use. These efforts have been designed both to limit scalping and to make the teams money a second time when tickets change hands at prices that are often higher than face value. WWE has reached a multi-year deal under which StubHub