Restaurant chain BurgerFi files for Chapter 11 bankruptcy protection [MSNBC.com]
BurgerFi International Inc (BFI)
Company Research
Source: MSNBC.com
Key PointsIn this articleA BurgerFi location is seen on August 20, 2024 in Arlington, Virginia.Tierney L. Cross | Getty ImagesThe company joins theBurgerFi, known for its higher-quality burgers, was founded in 2011. It went public in 2020 through a deal with a special purpose acquisition company, which briefly became a popular alternative to a traditional IPO due to their speed and reduced regulatory scrutiny. Months later, the company bought Anthony's Coal Fired Pizza & Wings for $156.6 million.BurgerFi has assets of $50 million to $75 million and total debts of $100 million to $500 million, according to a bankruptcy filing.For the quarter ended April 1, BurgerFi reported revenue of $42.9 million and a net loss of $6.5 million. Same-store sales at its namesake burger chain tumbled 13%.Across its two brands, the company has 162 restaurants, roughly half of which are run by franchisees, as of April 1.
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BFI
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