Host “Bar Rescue” Jon Taffer is measured by restaurants who have signed up for bankruptcy, and his show has been renovated for his tenth season.
On the border of Mexican barbecue and canteen Filed for bankruptcy Protection this week as she struggled to compete in a macroeconomic environment.
The Tex-Mex chain, owned by Argonne Capital Group, filed for bankruptcy protection in the United States in the United States for the North District of Georgia earlier this week after allegedly closed 40 locations. According to bankruptcy, the company manages 80 locations in the United States -abroad.
Like his rivals, the company said she had recorded a drop in traffic in recent years, struggled to retain workers and faced growing costs as the minimum wages increased, according to Associate Press.
Fox Business addressed Argonne Capital Group for comment.
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That is the latest ua An increasing number of major restaurant chains who filed for a bankruptcy court protection after fighting for the management of a heavy debt that accumulated during the Coid-19 pandemia. It will not be the last, according to bankruptcy, Daniel Gielchinsky, who predicted that there would probably be more restaurants who have applied for protection in the coming years.
On the border of the Mexican barbecue at dusk. (Jeffrey Greenberg / Universal Images Group via Getty Images / Getty Images)
TGI on Friday, Denny’s, Ruby on Tuesday, Rubio’s Coastal Grill and Red Lobster have filed for a bankruptcy court in recent years, and Hooters of America has potentially joined the list. The company is considering submitting a bankruptcy application as a restructuring of restaurant chain and resolving its debt, are recently sources for Bloomberg.
The industry expected the consumer consumer consumer to return to the level before the pandemic after things returned to normal. But fast service sector They began to deal with slowing traffic in neighborhoods backwards, as inflation consumers are still more frequent at home.
Hooters of America is reportedly considering submitting a bankruptcy application as a restructuring of the restaurant chain and resolving its debt. (Michael P. Farrell / Albany Times Union via Getty Images / Getty Images)
Hooters watching a possible bankruptcy application
“Customers have never returned in full force” because of changes in their habits and consumption ability, which meant that the revenue of the highest lines never recovered, and restaurants with a long debt were unable to repay these loans, according to Gielchinsky.
Some companies that did not apply for bankruptcy have significantly reduced their mark to better position themselves in the current environment and return the traffic customers to their restaurants.
Red Robin has recently announced as this week that he is also considering closing 70 locations after their lease expires as he tries to turn his business.
Customers at a restaurant in a ferry building in San Francisco on May 31, 2024. (David Paul Morris / Bloomberg via Getty Images / Getty Images)
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The company plans to sell three properties during the first quarter of the Fiscal 2025. The sale of these locations is expected to generate $ 5.8 million, which the company predicts that it will be used partly to repay its debt.
While the financial results for the Fiscal 2024 “fell significantly below the” original expectations of the company, the CEO of GJ Hart said that the company made “significant improvements in the guest experience” to try to bring back traffic to its restaurants.
Wendy fast food chain is closed 140 Location of weak performance At the end of 2024, how it looks like to improve your “restaurant rest and overall system health”.
