Restaurant bankruptcies have surged, with at least 10 chains filing for Chapter 11 in 2024 amid rising labor costs, decreased consumer spending, and loss of Covid-era support.
Roti, a Mediterranean fast-casual chain, filed for Chapter 11 on Aug. 23, struggling with a downturn in consumer spending and insolvency, particularly due to pandemic-related challenges.
BurgerFi expressed 'substantial doubt' about its ability to continue operating amidst a challenging market, signaling potential future bankruptcies could be on the horizon.
Chapter 11 filings across various sectors have risen by 49% in 2024, affecting not just restaurants but also retailers and service providers, driven by high interest rates.
Collection
[
|
...
]