18 Restaurant Chains That Have Filed for Bankruptcy
The coronavirus pandemic has devastated the restaurant industry. By mid-April of 2020, an estimated 30,000 American restaurants had closed for good and more than 110,000 were expected to shutter by the end of October, according to estimates from the National Restaurant Association. And chain restaurants have not been immune from these closures. Some classic chain restaurants had already been facing tough times amid stiff competition from newer fast-casual restaurants, and were forced to close underperforming locations to cut their losses. The pandemic only made things worse.
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GOBankingRates rounded up all the major U.S. restaurants that have declared bankruptcy this year. Find out if your favorite spot is on the verge of extinction.
Last updated: April 12, 2021
Krystal Holdings
Bankruptcy date: January 19
Assets: $401 million
Restaurant(s): Krystal
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Sun Capital Partners
Bankruptcy date: January 27
Assets: N/A
Restaurant(s): Bar Louie
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American Blue Ribbon Holdings
Bankruptcy date: January 27
Assets: $14 million
Restaurant(s): Village Inn, Baker’s Square
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Cosi
Bankruptcy date: February 24
Assets: $40 million
Restaurant(s): Cosi
FoodFirst Restaurants
Bankruptcy date: April 10
Assets: $307 million
Restaurant(s): Brio Tuscan Grill, Bravo Italian Kitchen
TooJay's Management
Bankruptcy date: April 29
Assets: $50 million
Restaurant(s): TooJay’s Deli – Bakery – Restaurant
Sustainable Restaurant Group
Bankruptcy date: May 12
Assets: $10 million
Restaurant(s): Bamboo Sushi, Quickfish
Garden Fresh Restaurants
Bankruptcy date: May 14
Assets: $50 million
Restaurant(s): Souplantation, Sweet Tomatoes
PQ New York 9
Bankruptcy date: May 27
Assets: $3 million
Restaurant(s): Le Pain Quotidien
BarFly Ventures
Bankruptcy date: June 3
Assets: $1 million
Restaurant(s): HopCat, Stella’s Lounge, Grand Rapids Brewing Co.
CEC Entertainment
Bankruptcy date: June 25
Assets: $1.7 billion
Restaurant(s): Chuck E. Cheese
Luxury Dining Group
Bankruptcy date: July 3
Assets: $10 million
Restaurant(s): Fig & Olive
Golden Gate Capital
Bankruptcy date: July 29
Assets: $13.5 million
Restaurant(s): California Pizza Kitchen
K.G. IM LLC
Bankruptcy date: July 30
Assets: $50 million
Restaurant(s): Il Mulino
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Garbanzo Mediterranean Grill
Bankruptcy date: Aug. 12
Assets: 1 million
Restaurant(s): Garbanzo
Cosmoledo
Bankruptcy date: September 10
Assets: $10 million
Restaurant(s): Maison Kayser
Sizzler USA
Bankruptcy date: Sept. 21
Assets: $1 million
Restaurant(s): Sizzler
NRD Capital Management
Bankruptcy date: October 7
Assets: $146 million
Restaurant(s): Ruby Tuesday
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Jordan Rosenfeld contributed to the reporting for this article.
Please note photos are for illustrative purposes only. Some photos are representational and might not depict the restaurant chains listed in this article.
This article originally appeared on GOBankingRates.com: 18 Restaurant Chains That Have Filed for Bankruptcy