Another restaurant chain files for Chapter 11 bankruptcy

Published On Sep 11, 2024, 11:51 AM

BurgerFi International has filed for Chapter 11 bankruptcy protection in response to a significant decline in consumer spending post-pandemic, compounded by rising inflation and increasing operational costs. The bankruptcy filing primarily involves its corporate-owned restaurants, specifically 17 BurgerFi locations and 50 Anthony’s Coal Fired Pizza & Wings establishments. The company aims to restructure and preserve the value of its brands while continuing to operate both corporate and franchised locations. CEO Carl Bachmann highlighted ongoing challenges despite early signs of recovery from a turnaround plan implemented less than a year ago.