These 6 classic American chains are close to disappearing
A new wave of bankruptcies has put older chains at risk.
When we say classic American chains, we hear these channels that you have grown attendant with your parents and grandparents. Those who were a Sunday routine, where you had a preferred order to order, as well as each member of your family and where prices allowed to smoke regularly on dessert. (Speaking of you, check these15 classical American desserts that deserve a return.)
These locations may not serve healthy or hangers by current standards, but they surely hold a special place in the colorful fabric of the restaurant scene. Unfortunately, such long-standing franchises have had the most affected during the pandemic, because their businesses are strongly dependent on families and friends who are comfortably together - a concept that seems to be a distant memory this year.
The following classic chains have recently declared bankruptcy and are about to disappear. While some will probably be able to restructure their debt and live to see another day (although fewer locations), others may not be as lucky.
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Luby's cafeteria
Lubby's Inc., the pre-loved cafeteria style chain company, announced in early September it isget out of business. The restaurant's real estate will be sold and the cafeteria of Luby, the brand that gave us the Classic Luann tray, will be closed. While the 77 restaurants belonging to Luby have been organized for closure, a small radius of hope has emerged with the rumors thatThe current CEO Chris Pappas can be acquired, which would save it effectively from closure.
Brutality
Fuddruckers, also owned by Luby's Inc, isFaced with similar perspectives as a sister brand. With the potential for permanent dissolution of the chain that is closer to closer, it remains to be seen what will happen with the 50 locations of the Fuddruckers Society and about 100 franchised locations. One thing for sure customers will fail to seize "the largest burgers in the world" at a reasonable price.
Cafeteria K & W
The south chain with places in North Carolina, South Carolina, Virginia and West Virginia, hasfiled for the bankruptcy of Chapter 11 earlier this month. The family business, which has existed for 80 years, for sale from the remaining 19 restaurants that are still operational or opt for a more traditional restructuring to reduce their debt. While President Dax Allred stated that the company hoped "the storm storm and continue serving customers for years to come," it remains to be seen if there will be in business.
Sizzler
The steakhouse that put affordable steak dinners on the map Ahas just declared bankruptcy. While this movement will be used to reduce the company's debt and renegotiate the company's leases for some of the 14 restaurants belonging to society, it is a real possibility that Sizzzler ends up closing some of them permanently. The company also crosses about 90 other locations that will not be affected by the deposit of bankruptcy. Nevertheless, it is difficult to know how much longer this brand, which culminated in the 70s and 80s, can use today's youngest clientele.
Dave & Buster's
Although Dave & Buster did not formally deposit bankruptcy, some signs of major problems for the well-liked arcade emerging. On the one hand, the company has just announced a huge series of dismissals that will take place until November. Not to mention, their successful formula relies heavily on foot traffic and on-site games, their greater source of income, so it is not surprising that the pandemic has wreaked havoc on their final result. The company recently stated that a bankruptcy deposit is a real possibility for them if they do not reachAn urgent affair with their lenders.
Golden coral
The largest operator of Golden Corral Restaurants franchiseesJust tabled for the bankruptcy of Chapter 11. The 1069 Restaurant Group, which belongs to the husband and the woman Duo Eric and Diane Holm, operates 33 locations of the famous buffalo chain via subsidiaries in Florida and Georgia. Although some places will probably be open, the company closes at least 9 restaurants to reduce their debt.