Another restaurant chain files for Chapter 11 bankruptcy [FOX Business Network]
BurgerFi International Inc (BFI)
Company Research
Source: FOX Business Network
The number of restaurant chains that have filed for bankruptcy this year grew Wednesday after BurgerFi International filed for Chapter 11 protection. The company said it filed for Chapter 11 reorganization to "preserve the value" of its BurgerFi and Anthony's Coal Fired Pizza & Wings brands "for all stakeholders." Only its corporate-owned BurgerFi and Anthony's Coal Fired Pizza & Wings restaurants are included in the bankruptcy proceedings, it said. There are 17 and 50 of those , respectively. BurgerFi's petition was filed in the U.S. Bankruptcy Court for the District of Delaware Chief Restructuring Officer Jeremy Rosenthal said the company's need to file for Chapter 11 arose amid a "drastic decline in post-pandemic consumer spending amidst sustained inflation and increasing food and labor costs," according to a press release. BurgerFi, seeking to improve its business, launched an extensive turnaround effort last year. Ticker Security Last Change Change % BFI
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News
- DJT stock falls another 10%. Could Trump Media's plunge finally spell the end for SPACs? [Yahoo! Finance]Yahoo! Finance
- BurgerFi and Anthony's Coal Fired Pizza closed restaurants: Full list and map of shuttered locations [Yahoo! Finance]Yahoo! Finance
- Anthony's Coal Fired Pizza in Cranberry to close as parent company delists from Nasdaq [Yahoo! Finance]Yahoo! Finance
- Here's where to get a free burger on National Cheeseburger Day [Yahoo! Finance]Yahoo! Finance
- Here's where to get a free burger on National Cheeseburger Day [Fortune]Fortune
BFI
Sec Filings
- 9/17/24 - Form 8-K
- 9/5/24 - Form 3
- 8/30/24 - Form 8-K
- BFI's page on the SEC website