The Red Lobster logo is displayed outside of a closed restaurant in Torrance, California, on May 14, 2024.
Patrick T. Fallon | Afp | Getty Images
Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.
Important Takeaways:
- At least 10 restaurant chains, not including multi-unit franchisees, have filed for bankruptcy in 2024. August alone brought three Chapter 11 filings from notable eateries. The increase in bankruptcies comes as diners pull back their spending, labor costs keep rising and Covid-era government help disappears.
- Restaurants are not the only companies seeking bankruptcy protection as high interest rates weigh on businesses. Chapter 11 filings have climbed 49% this year as of Aug. 20, according to BankruptcyWatch. Mall retailer Express, nursing home chain LaVie Care Centers and Joann Fabrics and Crafts are among the companies that have filed for bankruptcy protection this year.
- Here are the 10 notable restaurant chains that filed for bankruptcy protection in 2024:
- Roti
- Buca di Beppo
- World of Beer
- Rubio’s
- Melt Bar & Grilled
- Kuma’s Corner
- Red Lobster
- Tijuana Flats
- Sticky’s Finger Joint
- Boxer Ramen
Read the original article by clicking here.
