Cosi Inc

Cosi's September 2016 bankruptcy collapsed a fast-casual chain known for its signature flatbread sandwiches. The company had been public, achieving 150 locations before declining performance drove delisting. Fast-casual competition intensified while Cosi's square-bread differentiation proved insufficient. The company liquidated all corporate locations; a few franchisees survive. Cosi demonstrated that a single product innovation doesn't create a sustainable moat against well-funded competitors.