The restaurant industry sure seems to be struggling these days. To wit:
Noon Mediterranean, formerly known as Verts, filed for bankruptcy protection.
Just last week, Mike Isabella Concepts declared bankruptcy. So did Rubys Diner. This after Real Mex Restaurants filed last month.
Barnes & Noble admitted that its full-service restaurant experiment has been a major challenge.
Oh, and Taco Bueno just said its closing 16 locations.
All of this bad news apparently isnt stopping investors from pumping more millions into growth concepts.
Jollibee Foods Corp. invested $12.4 million into Rick Bayless fast-casual concept Tortas Frontera.
Not to be outdone, a bunch of well-known investors pumped $21 million into a single concept that has been open for…
Read the full article at: https://www.restaurantbusinessonline.com/financing/why-do-some-restaurants-get-millions-while-others-go-bankrupt