Full Breakdown
Time Out Markets to Close in Chicago and Boston
1/16/2026, 8:12:56 AM
Closure Announcement and Reasons
Time Out Group has announced the closure of its food halls in Chicago's Fulton Market and Boston's Fenway neighborhoods, effective January 23, 2024. The decision comes after nearly seven years of operation for both locations, which opened in 2019. CEO Michael Marlay cited decreased foot traffic and rising operating costs as the primary reasons for the closures. He noted that the pandemic has led to a shift towards hybrid work models, which has resulted in inconsistent customer visits.
Impact on Vendors and Community
The closures will affect 19 vendors in Chicago and 15 in Boston. Jesse Li, owner of Qing Xiang Yuan Dumplings in Chicago, expressed surprise at the announcement, stating that he had only recently signed a two-year contract. He observed that reduced foot traffic, attributed to remote work, had already impacted his business. Marlay acknowledged the contributions of the vendors, stating, “We are proud to have been able to give our vendors a platform in Time Out Market.”
Background of Time Out Markets
Time Out Market was designed to showcase local culinary talent by offering a variety of dining options under one roof. The Chicago market featured 17 vendors and hosted events such as live DJs and family storytime sessions. Despite its vibrant offerings, the market struggled to maintain consistent profitability due to external factors, including the ongoing effects of the COVID-19 pandemic.
Remaining Locations and Future Plans
With the closures in Chicago and Boston, Time Out will retain its markets in New York City and Brooklyn as the only remaining U.S. locations. Internationally, Time Out operates markets in cities including Montreal, Dubai, Cape Town, Porto, Barcelona, Bahrain, Osaka, and Budapest. The company also has plans to open four new markets in 2026, located in Vancouver, Abu Dhabi, Prague, and Riyadh.
Official Statements and Responses
In a statement regarding the closures, Time Out expressed gratitude for the opportunity to serve the Chicago and Boston communities, highlighting the cities' rich food and cultural scenes. Marlay emphasized the company's commitment to championing local talent, stating, “It has been an honour to serve Chicago, and we have loved our time here.”
Criticism and Opposition
While the closures have been framed as a business decision, some vendors and community members have expressed disappointment. The sudden nature of the announcement left many vendors unprepared, raising concerns about the impact on their businesses and the local food scene.
Conflicting Reports & Gaps
There are no significant conflicting reports regarding the reasons for the closures; however, the exact impact on individual vendors may vary. Some vendors, like Jesse Li, reported being caught off guard, while others may have anticipated challenges due to declining foot traffic.
Conclusion
The closure of Time Out Markets in Chicago and Boston marks a significant shift in the company's operations, reflecting broader trends in the food and retail industry post-pandemic. As Time Out pivots to focus on its remaining U.S. locations and international expansions, the future of its brand in these major cities remains uncertain.
