Finagle a Bagel is entering the latest battleground for restaurants looking for more revenue as consumers cut back on dining out: grocery store shelves.
Tweet 0diggsdiggYahoo! Buzz ShareThis Like many chains, the Newton-based company has suffered during the recession as people started eating more of their meals at home. Adding to that, Finagle a Bagel has been facing stiff competition from other bagel chains, doughnut shops, and even fast food restaurants that have increased their breakfast offerings to grab business during one of the most lucrative dining times. Revenue plunged from $20 million in 2007 to $10 million last year, and the company shuttered 11 of its 21 restaurants.
As a result, Finagle a Bagel presidents Laura B. Trust and Alan Litchman decided to overhaul their strategy, starting a new business in 2008, SJB Bagel Makers of Boston Inc., to sell Finagle a Bagel- branded bagels in the frozen food aisles, bakeries, and bread sections at grocery stores. The goal? To dominate the wholesale bagel market in New England.
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