10 biggest bankruptcies of the 2020 catering chain
Even these large companies and household names have had a difficult period surviving to the pandemic.
Pandemic coronavirus has been ravaging on companies of all types, but few institutions have undergone more thanRestaurants. In the first days of theCOVID-19 [Feminine Locking, most restaurants have been forced to stop operating - and even when restrictions are relaxed, most catering institutions have seen far awayFewer customers than ever before.
Tens of thousands of small businesses have closed permanently during the pandemic, with restaurants representing a majority of them. In fact, almost110,000 restaurants In America, close it for good because of COVID-19. Although generally more resilient to the ravages of 2020, many major restoration chains were also struck.
Here is a list of 10 main catering channels deposited for bankruptcy in 2020. I hope something can be done to draw some of their financial struggle. Others have unfortunately already been added to our list ofMore Saddes restaurant closures in each state.
Subplantation
Founded in the late 1970s and at a given moment of nearly 100 pitches under the tattillary names and sweet tomatoes, this nine-nine-nine-style buffet restaurant has not survived the Covid-19 pandemic. In March 2020, the chain initially obtained its locations temporarily, but less than two months, announced that thethe closure would be permanent.
Friendly
A beloved dinner and an ice cream shop with a history of 85 years old, friendlydeposited for bankruptcy By the end of the fall of 2020. The Company announced that it would be able to keep most of their 130 open pitches under the protection of Chapter 11 and planned minimal layoffs. This is the second time in 10 years that the friendships have deposited for bankruptcy.
Tuesday Ruby
After holding months, Ruby Tuesdayfiled for the bankruptcy of Chapter 11 In early October, 2020. Some 185 sites were permanently closed, while other 230 other restaurants remain operational as the parent company seeks to consolidate debt and is probably sold.
Sizzler
Quoting directly the impact of the Cvid-19 pandemic on its profits, Budget Steakhouse Sizzler, which has existed for more than 6 decades,deposited for bankruptcy In September 2020 (despite several million dollars of federal loans paid earlier in the year). The company stated in a statement that they did not intend to closely close places.
Chuck E. Cheese
Chuck E. Cheese was already carrying debt charge of more than $ 1 billion when the pandemic forced the closure of all its locations at the national level. At the end of August, the parent company CC Entertainmentdeposited for bankruptcyAnd now, the future of the 43-year-old company is unclear.
Pizza California Cuisine
In the middle of summer 2020, CPK came into bankruptcy chapter 11. In the coming months, the Company has managed to restructure and eliminate nearly a quarter of $ 1 billion in debt and at the end of the end of the end of autumn, the cuisine of the Californian pizzaemerged from bankruptcy.
Daily pain
An early victim of the effects of COVID-19, bakery, sandwich and pastry chain the daily bread filed for bankruptcy in May 2020. It was not a big surprise, however. Once the locations of 300 plus 300, the chain were already less than 100 stains. Several dozen restaurants have been re-open afterA sale to a new parent company.
Operator Wendy's and Pizza Hut, NPC International
Once the operator of more than 1,600 restaurant franchises, including Wendy's and Pizza Hut,NPC International filed for bankruptcy in July. They had already lost money before the pandemic, but his advent accelerated the folding.
By Chloe
Vegan Fast-Casual Restaurant De Chloe opened its first location in New York in 2015 and, less than a few years, had several locations in the United States, plus five in London and one in Canada. Unfortunately, in December 2020, citing the pandemic, the companydeposited for bankruptcy.
IHOP Operator, CFRC Holdings
CFRC assets managed nearly 50 IHOP locations spread over several southern states, but most of these restaurants recorded a drop in double-digit benefits during the pandemic, which pushed the company to file a bankruptcy in May . The parent company of the IHOP, GLOBAL BRAND DINE, committed to re-open the clogged locations.
For more restaurants, here is the Beloved catering chain dishes that are left forever .