These restaurant chains filed for bankruptcy this year

Red Lobster, Buca di Beppo and Roti are among the notable chains that filed for Chapter 11.

Restaurant bankruptcy filings have surged so far this year, echoing a broader rise in corporate bankruptcies across sectors.

At least 10 restaurant chains, not including multi-unit franchisees, have filed for bankruptcy in 2024. August alone brought three Chapter 11 filings from notable eateries. The increase in bankruptcies comes as diners pull back their spending, labor costs keep rising and Covid-era government help disappears.

Several more restaurant chains could file for bankruptcy before the end of the year. BurgerFi, which also owns Anthony’s Coal Fired Pizza & Wings, said in a regulatory filing in mid-August that there is “substantial doubt” about the company’s ability to operate. Others, such as Mod Pizza, have narrowly avoided bankruptcy through a last-minute sale.

Restaurants are not the only companies seeking bankruptcy protection as high interest rates weigh on businesses. Chapter 11 filings have climbed 49% this year as of Aug. 20, according to BankruptcyWatch. Mall retailer Express, nursing home chain LaVie Care Centers and Joann Fabrics and Crafts are among the companies that have filed for bankruptcy protection this year.

Here are the 10 notable restaurant chains that filed for bankruptcy protection in 2024:

https://www.nbcnews.com/business/consumer/restaurant-chains-filed-bankruptcy-rcna169210

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