City Bakery Announces It May Shut Down Due to Financial Troubles

The City Bakery, one of New York’s most iconic pastry shops and cafes, is likely leaving its Union Square location where it’s been for nearly 30 years — and may shut down forever.

Chef and CEO Maury Rubin’s bakery, known for its hot chocolate and pretzel croissants, announced in two long Instagram posts this week that the company is struggling. Though the original location at 3 West 18th Street is just as busy as ever, it has “never been far enough away from being vulnerable,” the post says.

“Suffice to say for now: we won’t be staying in our current location. We may move. We may cater only. We may wholesale only. We may transform and partner with another food company in the city,” the post says. “There is also a strong possibility we will close entirely, and soon.”

Eater has reached out to City Bakery for more information.

The bakery opened in 1990, long before the restaurant boom in Union Square, and it has since become a destination and neighborhood stand-by for chocolate chip cookies, hot chocolate with in-house marshmallows, pretzel croissants, and other baked goods and cafe fare. It expanded with locations in Japan and with a sister brand called Birdbath Neighborhood Green Bakery, which had locations in Tribeca, Soho, and the UWS.

But most of the Birdbath bakeries have closed, and according to City Bakery’s post, the company has had trouble finding new financial support and partners since then. It’s a “heartbreak,” the post says.

“We have too much debt, debt which is like quicksand,” the post says. “Incredibly, no matter that we are a two-generation NY favorite, normal debt relief from a normal bank has not been an option.”

Sounds like they’re not ready to shut down yet, though it’s not said what the solution will be. Fans are already freaking out about a potential closure. “I will rob a fucking bank for you,” one comment says. “This is more than just about good hot chocolate and food,” another one says. “You guys are a treasure that needs to be saved.”

• City Bakery, home to NYC’s ‘best hot chocolate,’ may close after 28 years [NYP]