Globally-inspired burritos failed to inspire enough people in Bethesda to patronize Boloco, according to a company statement announcing the closure of its Bethesda location yesterday. Although John Pepper is no longer CEO of the burrito chain, the closure announcement seemed to reflect the corporate culture he oversaw as the Boston-based company expanded in recent years. Rather than close the doors and sneak out of town, the public statement was frank in acknowledging the Bethesda and DC Boloco outposts were unable to succeed far from Boston in an "oversaturated market full of fast casual restaurant options." The chain also said it lacked the number of DC-area locations it eventually determined would be necessary to raise public awareness of the Boloco brand.
It's a shame things didn't work out for Boloco, which made a point of offering better than minimum wages and benefits for its employees (the company also said it will pay now-jobless employees four weeks' worth of salary). I was a big fan of the Jimmy Carter milkshake, as well. They seem to still be doing well in the Boston area, so you can't rule out their return to DC someday in the future. According to website Bostinno, Boloco had
tried to obtain $15 million in new capital a year ago, without which further expansion in DC was probably out of the question.
