Common breakfast eating chain recordsdata for Chapter | International Market Information
The fast-casual eating sector has battled a sequence of financial challenges over the past 5 years which have led to a whole bunch of restaurant closings and Chapter 11 chapter filings.The Covid-19 pandemic pressured eating places to close for prolonged durations, then eating places transitioned to take-out and supply fashions earlier than permitting a restricted quantity of diners of their eating places till the pandemic subsided. 💸💰 Do not miss the transfer: Subscribe to TheStreet’s free day by day publication 💰💸As soon as the pandemic light away, more issues developed as inflation ramped up, resulting in increased labor and food prices for eating places. Rising rates of interest additionally led to elevated prices of debt.Associated: Troubled trucking company recordsdata for Chapter 11 bankruptcySeveral fast-casual pizza restaurant house owners confronted financial misery that pressured them to file for Chapter 11 chapter.EYM Pizza, which operated 142 Pizza Hut areas in Georgia, Illinois, Indiana, South Carolina, and Wisconsin, filed for Chapter 11 chapter safety on July 22, 2024, within the Jap District of Texas, searching for to promote its belongings.The franchisee offered 77 of its eating places to 6 totally different bidders and closed the 65 different areas it was not in a position to promote.The franchisee of Marco’s Pizza areas in Austin and Spherical Rock, Texas on Feb. 3 filed for Chapter 11 chapter to reorganize its companies.That submitting took place three months after Tampa Bay Marco’s Pizza franchise house owners Terry Burkholder and Ben Finley, who owned 19 areas, filed for Chapter 11 chapter in November 2024 to reorganize and promote underperforming eating places.One other fast-casual pizza chain Fired Pie on Nov. 13, 2024, filed for Chapter 11 safety within the U.S. Chapter Court docket for the District of Arizona to restructure its business.Quick-casual chains filed for bankruptcyFast-casual Tex-Mex chain Tijuana Flats Eating places on April 19, 2024, filed for Chapter 11 chapter within the U.S. Chapter Court docket for the Center District of Florida, offered the company to a new possession group, and closed 11 of its areas.Rubio’s Coastal Grill, a Carlsbad, Calif.-based fast-casual Mexican restaurant chain, on June 5, 2024, filed for Chapter 11 chapter within the U.S. Chapter Court docket for the District of Delaware in Wilmington searching for to restructure its debt.
The Biscuit Bar recordsdata for chapter to restructure its money owed.Picture source: Shutterstock
The Biscuit Bar recordsdata for chapter And now fashionable fast-casual chain The Biscuit Bar filed for Chapter 11 safety to reorganize its business, going through financial misery.The Plano, Texas-based restaurant chain filed its petition on Feb. 6 within the U.S. Chapter Court docket for the Northern District of Texas to restructure the money owed of its chain of six biscuit sandwich eating places.Extra chapter:
The Biscuit Bar, which operates eating places in Abilene, Coppell, Dallas, Fort Price, North Arlington, and Plano, Texas, listed $50,000 to $100,000 in belongings and $1 million to $10 million in money owed in its petition. The debtor, TBB Boardwalk LLC, mentioned in its petition that no funds could be obtainable for distribution to unsecured collectors after administrative bills.
High restaurant bankruptcies in 2024.TheStreet
The favored breakfast and brunch restaurant chain gives a menu full of sandwiches that includes its freshly baked buttermilk biscuits, together with bacon, egg, and cheese sauce; sausage gravy and biscuit; sausage, egg, and cheese; French toast biscuit; steak, egg, and cheese, and The Hoss with Southern fried chicken, bacon, jack cheese, sausage gravy, and honey butter.The menu additionally options about a dozen different biscuit sandwiches to tempt diners.The restaurant chain’s house owners Jake and Janie Burkett began the restaurant chain in spring 2018 with its first location in Plano, after developing each recipe within the household’s home kitchen, based on its web site.The Biscuit Bar has plans to develop with more areas, the web site asserted, although enlargement plans will not be sure following the chapter submitting.Associated: Veteran fund supervisor points dire S&P 500 warning for 2025
Keep up to date with the latest news within the world markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on worldwide trade. We offer day by day updates to make sure you have entry to the freshest data on stock market actions, commodity costs, currency fluctuations, and main financial bulletins.
Discover how these trends are shaping the longer term of the worldwide financial system! Go to us commonly for probably the most participating and informative market content material by clicking right here. Our rigorously curated articles will keep you knowledgeable on market shifts, investment methods, geopolitical impacts, and pivotal moments in world finance.
