5 beloved chains that can go bankrupt
In a second wave of closures, these restaurants can lose hundreds of locations this year.
The first wave of restaurant closures related to the pandemic saw the permanent shutter of certain channels, likeSubplantation, while many others likeChuck E. Cheese andDaily pain Prospected for bankruptcy and are still confronted with an uncertain future.
Even rapid restoration marks have had to make the number of operating rentals-Dunkin announced theClosing all locations in Speedway Gas Stations, while McDonald's said they arehundreds of locations In Walmart stores.
Now, even more fast service restaurants seem to be on the cutting block because future rental contracts and sales are still decreasing. And while the owners and lenders have extended breaks with difficulty chains earlier this year, it may not be the case much longer.
These five channels are facing bankruptcy and closing hundreds of locations in the near future, and they soon leave your area. And do not forget toSubscribe to our newsletterTo get the latest news from the restaurant delivered directly to your inbox.
Pizza California Cuisine
One of the last chains to declare bankruptcy, California Pizza Kitchine finallysuccumbed to months of sales in difficulty. While other pizza chains have flourished during the pandemic, largely stimulate the configuration of a strong delivery company, the California-based chain with more than 250 locations in the country had trouble after the closure of its rooms. to eat. In order to cross and restructure its debt, CPK will probably make more time in less profitable places in the coming months, which means that this delicious pizza option could leave your city soon. On the other hand,Sales of this national pizza chain explode right now.
Matchbox
This small chain of pizza and burger based on a small gourmet chain of Washington D.c. has struggled for years and finally declared bankrupt this week. Currently 12 pitches through Washington D.c., Maryland, Virginia, Texas and Florida, the company said it would use bankruptcy deposits to try to renegotiate the leases with their owners, waiting for the closure of most of its locations. Read about these7 beloved hamburger chains that can close for good.
Tuesday Ruby
Ruby Tuesday announced in June it would beClose 150 from 470 locations for good. And the chain is still not out of the wood. The full-service catering operator had trouble declining sales for years, due to "weak market for casual restaurants and efforts to increase the chain in the past", according toRestaurant Business. Even after receiving the $ 5 to $ 10 million PPP loan during the pandemic, the chain ultimately weighs their options as rental agreements are due for their remaining locations. Whatever the end result, Ruby Tuesday is significantly its operations significantly. Here is morePopular restaurants that rank permanently due to the pandemic.
Belly
The sandwich chainannounced in June They would close 100 of their 470 stores and tried to negotiate lease redemptions with owners of the seized locations.In order to avoid bankruptcy deposit. As if it were not sufficiently stirred during the pandemic, the chain is also fire for receiving a $ 10 million loan from PPP, which they ended up giving, and had aRecent change of leadership. The way they integrate the rest of this year will reveal more about the future of society.
lobster
Restaurant Business Called the red lobby like "a name to watch" in a range of restaurants that could go bankrupt. The chain had itscredit ratingdecommissionedEarlier this year, place it in the category "Mediocre Quality and High Credit Risk". Some of the reasons for which the experts predict the chain will have a time to cope with the pandemic of the pandemic and its niche offering only seafood, making it a more difficult choice for the remaining guests. They currently operate nearly 700 locations across the country and remains to be seen how many these locations will be open at 2021.