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Cookie chain shuts all stores after rapid growth
Chip City, a popular New York-based cookie chain, has announced the closure of all its locations nationwide after experiencing significant financial challenges. Despite rapid growth and recent investment from Enlightened Hospitality Investments, the company has struggled amid macroeconomic headwinds and ongoing legal disputes with co-founder and former CEO Peter Phillips, who alleges unpaid compensation. The shutdown marks a sudden reversal for the chain, which expanded into multiple states and had plans for further growth.
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