At the end of December 2020, but reported in early January 2021, Chuck E. Cheese parent company CEC Entertainment announced that the company completed its financial restructuring and emerged from Chapter 11 protection, for which it filed in June 2020.
In late January, Cici’s Holdings Inc., which operated and franchised the Cicis Pizza buffet chain, and affiliated companies filed for Chapter 11 bankruptcy protection, which involved the company’s sale to real estate company D&G Investors LLC. The company emerged from bankruptcy in mid-March after completing restructuring.
In mid-February, Punch Bowl Social, which filed for Chapter 11 bankruptcy in December 2020, named a chief restructuring officer and received court approval for the company’s bid and sales procedures, officially going on the market for buyers. The brand emerged from bankruptcy in June, naming co-CEOs in Robert Cornog and Richard Flaherty.
In mid-February, Conquest Foods LLC, a franchisee of 70 Jack in the Box restaurants in Missouri and Illinois, filed for Chapter 11 bankruptcy protection.
After declaring Chapter 11 bankruptcy in October 2020, Ruby Tuesday emerged from bankruptcy in late February, with a Delaware judge approving the company’s restructuring plan.
In mid-March, a group of investors agreed to acquire the By Chloe vegan restaurant chain — now known as Beatnic — out of bankruptcy. The previous parent company, BC Hospitality Group, had filed for Chapter 11 bankruptcy protection in December 2020.
Golden Corral’s second-largest franchisee, Platinum Corral, filed for Chapter 11 bankruptcy in April after the chain’s largest franchisee, 1069 Restaurant Group LLC, went bankrupt in October.
Iconic Colorado Mexican restaurant Casa Bonita filed for Chapter 11 bankruptcy protection in April. The concept was sold out of bankruptcy to the creators of TV show “South Park” in November.
Crave Brands, the parent of Meathead, filed bankruptcy in April, and the company’s lender called the filing “a stunt,” questioning whether the chain’s former manager had authority to seek reorganization. The parties resolved their dispute quickly, with the chain agreeing to continue operating with daily reporting.
The parent company of Furr’s Fresh Buffet, Ryan’s, Old Country Buffet, Hometown Buffet and other concepts filed for Chapter 11 bankruptcy protection in April.
Grill Concepts Inc, parent to Public School on Tap and Daily Grill, filed for Chapter 11 bankruptcy reorganization in June, saying pandemic-related restrictions on dine-in service completely devastated the company’s operations.