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

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