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0.00060386473429945 -0.000603864734299618 0 -0.000603864734299618 0.0205314009661835 0.0144927536231883 0.0229468599033816 -0.101449275362319
Stock impact report

The Burger Restaurant Chain That Just Filed For Bankruptcy [Yahoo! Finance]

BurgerFi International Inc (BFI) 
Company Research Source: Yahoo! Finance
the ranks of those companies experiencing dire financial issues. As reported by CNN , BurgerFi filed Chapter 11 bankruptcy, due to a combination of rising food costs, higher operating expenses, and decreasing sales due to the closure of store locations. Chapter 11 bankruptcy involves the creation of a repayment plan to reorganize debt. BurgerFi acquired Anthony's Coal Fired Pizza & Wings in 2021, and both establishments experienced a 4% decrease in sales figures during the financial quarter ending in July 2024 compared to the same time last year (per a filing with the U.S. Securities and Exchange Commission ). BurgerFi's debt-to-asset ratio illustrates its poor financial condition, as the company claims between $50 million and $100 million in assets, while its debt is projected to range between $100 million and $500 million. The filing affects corporate-owned locations, while BurgerFi franchise locations are excluded. However, the company claims that affected locations will continue Show less Read more
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