Struggling Fast-food chain learns Chapter 11 bankruptcy fate
When you file Chapter 11 bankruptcy. there's no guarantee you will remain in operations at the end of the process.
A number of restaurant chains have recently filed for Chapter 11 bankruptcy protection and come out the other side.
Red Lobster closed dozens of stores but continues to operate. The same thing happened with Hooters, Bucca di Beppo, On the Border, and TGI Fridays. Boston Market was not allowed to file for bankruptcy due to its owner not proving enough information and has essentially closed.
