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Bankruptcy

Financing

Boston Market's collapse leaves creditors fighting over assets

 By Jonathan Maze on Jul. 02, 2024

One of the chain’s bankers is pushing back against US Foods’ efforts to garnish its accounts after the distributor won a judgment earlier this year. The reasoning? It has too many garnishment requests.

Operations

Red Lobster's decline creates an opportunity in seafood

 By Joe Guszkowski on Jun. 28, 2024

As the market leader closes restaurants across the country, innovative upstarts, steakhouses and even grocers could be in line to benefit. But can anyone unseat the king?

Financing

A sign of the times? Why we’re seeing so many bankruptcies

By Jonathan Maze on Jun. 27, 2024

The Bottom Line: Closures and bankruptcy filings have become commonplace in recent months. It’s a tough market, and this is the result.

Financing

Weak sales and delayed tax refunds push an Arby's franchisee into bankruptcy

By Jonathan Maze on Jun. 26, 2024

Miracle Restaurant Group, which operates 25 restaurants in Illinois, Indiana, Texas, Mississippi and Louisiana, sought Chapter 11 debt protection for the second time.

Financing

A 48-unit Subway franchisee declares bankruptcy

By Jonathan Maze on Jun. 24, 2024

River Subs LLC, a large operator out of San Antonio, is seeking Chapter 11 debt protection after losing a nearly $3 million judgment in a wrongful death lawsuit.

Financing

The eatertainment business shows signs of wear

By Jonathan Maze on Jun. 24, 2024

The Bottom Line: The food-and-games concept Chicago WhirlyBall filed for bankruptcy last week as companies like Dave & Buster’s and TopGolf show sales weakness.

Financing

Burger King franchisee Sun Holdings makes a play for Uncle Julio's

By Jonathan Maze on Jun. 21, 2024

The large operator has acquired the debt in the casual-dining Mexican chain, paving the way for a potential acquisition.

Operations

Laid-off Rubio's worker files WARN complaint

By Lisa Jennings on Jun. 18, 2024

A worker who was terminated when 48 restaurants were shuttered is seeking class-action status, saying the fast-casual chain did not give required notice.

Financing

More small restaurant chains file for bankruptcy

By Jonathan Maze on Jun. 17, 2024

Melt Bar & Grilled, an Ohio chain that was featured on the Food Network and the Travel Channel, joins the Chicago concept Kuma’s Corner and other small chains running into post-pandemic financial problems.

Workforce

California Red Lobster employees sue chain over mass layoffs

By Joe Guszkowski on Jun. 14, 2024

A lawsuit alleges that the seafood chain did not give staff enough notice before closing nearly 100 restaurants last month.

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