Popular barbecue restaurant chain files for Chapter 11 bankruptcy

The fast-casual restaurant sector has faced financial distress since the Covid-19 pandemic severely impacted the industry beginning in 2020.

After restaurants were forced to temporarily shut down operations because of the pandemic, many were not able to recover and went out of business. The pandemic's effects on the sector were magnified by several economic factors, such as rising inflation, increased interest rates on debt, and changing attitudes toward discretionary spending.