Photo courtesy of Le Pain Quotidien
The pandemic hasnt been good to the restaurant industry and the result has affected a wide range of concepts, from child-focused chains such as Chuck E. Cheese to urban bakery/caf concepts like Le Pain Quotidien.
But most them have something in common: They were not necessarily prepared for the financial onslaught that started in March. Many either had too much debt or were in decline going into it.
All told, 17 restaurant chains and one large-scale operator have sought debt protection since the outset of the pandemic. All but one of which has filed for Chapter 11:
Sizzler USA
The venerable steakhouse chain declared bankruptcy this month, saying that it needs to renegotiate leases and cut back on …
Read the full article at: https://www.restaurantbusinessonline.com/financing/these-restaurant-companies-filed-bankruptcy-during-pandemic