US restaurant chain BurgerFi files for bankruptcy [Yahoo! Finance]
BurgerFi International Inc (BFI)
Company Research
Source: Yahoo! Finance
The move seeks to preserve the value of its brands for all stakeholders. The company noted that its 144 locations across the US, including Puerto Rico and Saudi Arabia, will remain open and operate as usual. The Chapter 11 proceedings will involve only the 67 corporate-owned locations of both brands, leaving franchisee-owned establishments of BurgerFi and Anthony's Coal Fired Pizza & Wings unaffected. In July 2023, the board appointed Carl Bachmann as CEO and Christopher E Jones as chief financial officer to address operational challenges and revitalise the brands. Under the new leadership, BurgerFi International developed and implemented a strategic plan to tackle issues such as declining same-store sales, high employee turnover, and an outdated menu. The company has also conducted a comprehensive review of its operations, which is ongoing. As part of its restructuring efforts, BurgerFi International has closed 19 underperforming corporate-owned stores, aligning its oper
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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