Popular restaurant chain files for Chapter 11 bankruptcy

Iconic casual restaurant chains have battled for survival over the last year with several filing for bankruptcy seeking to reorganize their businesses to continue operating as going concerns.

All of these distressed restaurants first faced setbacks five years ago during the Covid-19 pandemic and never fully recovered. After the pandemic subsided, other economic problems added to their distress with rising costs of labor, food, and supplies from inflation, increased interest rates on debt, and changing attitudes of consumers on dining out.