Wahlburgers, the Wahlberg family’s chain of restaurants, was reported to be facing financial troubles by Page Six recently, but the chain has shot down the rumors after the article appeared.
The publication cited sources claiming the Coney Island location had closed this month due to rent not being paid and that the Times Square location had yet to open due to financial issues.
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“They have not been paying their bills,” a source said of the chain’s Coney Island and Brooklyn locations. “They were on the verge of being locked out of Coney Island”
“Wahlburgers required its Coney Island restaurant to close due to a number of factors. The same franchise group was in the process of developing a space in Times Square. In both cases the franchisee was not operating in compliance with Wahlburgers business practices and brand standards,” a rep for the chain said.
In response to the reports, Rick Vanzura, the CEO of Wahlburgers, posted a statement on LinkedIn.
“Over the weekend I received many inquiries caused by an irresponsible NY Post article regarding Wahlburgers,” the statement read. “The story covered the closing of the Wahlburgers Coney Island location and the structure of our Times Square store. The original article implied there were financial issues with the business and completely ignored a statement we provided prior to the article’s publication setting the record straight.”
Vanzura noted that the chain has multiple locations and has several under construction and is signing development agreements as well.
“In short, our growth plans remain full steam ahead. What the Coney Island situation demonstrates is that we won’t tolerate locations to be operated below brand standards,” he continued. “That is why we closed Coney Island.”
Photo Credit: Shutterstock.com
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