Oh how the mighty have fallen, or at least that’s what many investors believe. Just when we thought Chipotle, as one of the most popular fast casual chains in the country was invincible, it has been hit with numerous food safety scandals following a massive E. coli outbreak on the West Coast that shut down 50 restaurants.
The latest news is that a Chipotle located in Seattle was shut down Thursday by health officials for repeated food safety violations. The same store was closed temporarily last month following the E. coli scare.
The restaurant was closed almost immediately, following "preliminary reports of a person experiencing gastrointestinal illness who ate at the Chipotle," according to the Seattle Health Department.
Over the past month, Chipotle stock has plummeted 14 percent, according to Barron’s. However, once Chipotle came clean and admitted their mistakes in a recent statement which promises the chain will become “an industry leader in food safety,” shares lifted approximately three percent.