It was a bizarre year for restaurants where bankruptcies are concerned, with very few filing and none after early June, perhaps partially due to courts being closed and short-staffed throughout the pandemic.
Still, there was a lot of interesting news in the restaurant finance world. Many chains that filed bankruptcy in 2020 restructured and emerged in early 2021, including Punch Bowl Social and Ruby Tuesday. The brand now known as Beatnic, formerly By Chloe, at long last resolved ongoing legal disputes, emerged from bankruptcy and fully rebranded throughout the year.
Golden Corral’s second-largest franchisee filed for Chapter 11 bankruptcy protection in April, following in the footsteps of that brand’s largest franchisee, which filed in October 2020. And Casa Bonita, a Colorado icon, filed for bankruptcy and was eventually purchased by none other than the creators of the TV show “South Park.”
Click through the gallery to catch up on the financial news from 11 restaurants companies who filed or emerged from bankruptcy in the second year of the pandemic.
Contact Leigh Anne Zinsmeister at [email protected]