Add thelocalreport.in As A Trusted Source
The timeout market has closed chicago and boston Global food and cultural hall companies blame falling footfall and rising costs.
Customers can enjoy the Time Out Market until January 23, before it closes permanently.
The 27,000-square-foot Boston Market, located in the Fenway neighborhood, includes 15 restaurants, two bars, a patio and a video installation wall. The Chicago market is larger at 50,000 square feet. Located in the Fulton Market District, the market features 15 restaurants, three bars, a rooftop terrace and a video installation wall.
Both markets opened in 2019 but were subsequently hit by the Covid-19 pandemic, which saw shops and restaurants close at least temporarily while Americans stayed home to stem the spread of the virus.
Time Out Market CEO Michael Marlay said in a statement that the company is seeing “recovery and growth in the Chicago and Boston markets after the pandemic, and we are focused on initiatives to drive further growth.”
But Mallali said “footfall to date in the region has remained inconsistent due to ongoing mixing operations, in addition to increased operating costs – all of which hamper continued profitability.”
There are still two timeout markets new york city and others around the world. Despite closing stores in Chicago and Boston, Time Out Plan to open market Vancouver, Abu Dhabi, Riyadh and Prague.
independent Time Out has been contacted for comment.
“It has been an honor to serve Chicago and we have enjoyed our time here – it is a fantastic city with an outstanding culinary and cultural scene,” Time Out said. “We would like to thank our team, our chefs and restaurateurs, who are truly the best in the city. It is because of all of them that Chicago Market is such a wonderful place for our guests, and we thank them from the bottom of our hearts.”
Time Out issued a nearly identical statement, paying homage to its Boston market.