The Time Out Market food halls are closing in both Boston and Chicago.
Parent company Time Out Group posted on Wednesday that the food-and-drink collection of outlets will be closing in Boston’s Fenway, as well as Chicago’s Fulton Market at the end of January, though the digital media brands will remain active in both cities promoting food-and-drink destinations in each market.
The last day for the markets, which have operated in Boston and Chicago for seven years, is Jan. 23, the company said.
“Following the pandemic, we have seen the Boston Market recover and grow, and we have focused on initiatives driving further growth; however, footfall until today remains inconsistent in the area due to ongoing hybrid working and in addition, operating costs have increased—all of which prevents consistent profitability,” said CEO Michael Marlay in a statement.
In a separate post, Marlay used the same quote, but about Chicago’s Fulton Market.
After the closures, that will leave New York as the only city left with a Time Out Market. A location in Miami, the group’s first in the U.S., closed in 2023.
In September, the company opened a second New York location in Manhattan’s Union Square, which featured vendors like Kwame Onwuachi’s Patty Palace, Kebabwala and Taqueria El Chato. The first Time Out Market in New York opened in Brooklyn’s Dumbo neighborhood.
The company said it is focused on continued growth of existing and new sites around the world, including 11 remaining markets, and four new sites scheduled to open this year and beyond, with more in negotiation.
The concept was born in Lisbon in 2014 as a food hall that celebrated local restaurants and bars, gathering them together in one spot as a tourist magnet. The concept grew around the globe.
The company lists market locations in Montreal, Dubai, Bahrain, Cape Town, Osaka and Budapest, for example.
News of the closures in Boston and Chicago, however, raises questions about whether the traditional food hall model is sustainable.
But food halls keep coming.
Wonder, a super food app that hopes to become the Amazon of food-and-beverage, is opening food halls in New York and Washington, D.C. offering delivery, pick-up and dine-in options.
UPDATE: This article has been updated with additional information from Time Out Market.
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