The coronavirus pandemic was the final blow for a lot of restaurant chains, which ended up now struggling with expansion in third-bash shipping and consumers’ migration absent from procuring malls. On Sunday, Friendly’s – an 85-year-old East Coast chain recognised for its ice product – was the newest to file for Chapter 11 personal bankruptcy defense.
Listed here are some of the major chains to request personal bankruptcy safety this year:
– FoodFirst World-wide Dining places: The mum or dad business of the Brio Italian Grille and Bravo Italian Kitchen area cafe chains submitted for Chapter 11 personal bankruptcy on April 10. Orlando, Florida-centered Earl Enterprises, the guardian company of Earth Hollywood and Buca di Beppo, has reopened 49 places and strategies to reopen 7 a lot more in the coming weeks.
– Garden Fresh Restaurants: The operator of the buffet chains Souplantation and Sweet Tomatoes submitted for Chapter 7 personal bankruptcy on May 14 and liquidated, closing all of its 97 eating places.
– Le Pain Quotidien: The U.S. arm of the bakery chain filed for Chapter 11 personal bankruptcy on Could 27. It bought all of its 98 locations to New York-dependent Aurify Brand names, which planned to reopen 40 of them.
– Chuck E. Cheese: CEC Amusement, the Irving, Texas, mum or dad of Chuck E. Cheese, submitted for Chapter 11 bankruptcy safety on June 25. As of September, 316 of the company’s 555 organization-operated Chuck E. Cheese and Peter Piper Pizza destinations experienced reopened.
– NPC Intercontinental: A significant franchisor of Wendy’s and Pizza Hut eating places filed for Chapter 11 on July 1. In August, Leawood, Kansas-primarily based NPC arrived at a offer with Pizza Hut to shut 300 underperforming areas. NPC owns 1,225 Pizza Huts and 385 Wendy’s in 27 states.
– California Pizza Kitchen area: The Playa Vista, California-primarily based pizza chain filed for Chapter 11 individual bankruptcy on July 30. Its 200 places to eat have remained open although it hammers out a offer with creditors.
– Garbanzo Mediterranean Clean: a Centennial, Colorado-centered chain with 4 firm-owned dining establishments and 21 franchised places, filed for Chapter 11 individual bankruptcy on Aug. 12.
– Sizzler: The Mission Viejo, California-primarily based steakhouse chain filed for Chapter 11 personal bankruptcy on Sept. 21 and said it would need to negotiate leases on its firm-owned spots. Sizzler has 107 restaurants, but most are operate by franchisees. The corporation stated it planned to retain 14 enterprise-owned outlets open throughout its restructuring.
– Ruby Tuesday: The Maryville, Tennessee-based mostly informal chain submitted for Chapter 11 personal bankruptcy on Oct. 7. The corporation prepared to shut 185 areas forever but keep 250 restaurants open through the restructuring.
– Friendly’s: an 85-calendar year-aged Wilbraham, Massachusetts-dependent chain recognized for its ice product, filed for Chapter 11 on Nov. 1. Nearly all of its belongings are being offered to Amici Associates Team. Friendly’s stated all 130 places will stay open throughout the restructuring.
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