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Bankruptcy

Financing

Rubio's files for bankruptcy again

 By Jonathan Maze on Jun. 05, 2024

The fast-casual chain blamed rising costs and the fast-food wage in California as it filed its second Chapter 11 in four years. It plans to use the bankruptcy process to find a buyer.

Financing

What is the future of Red Lobster?

 By Jonathan Maze on Jun. 05, 2024

A Deeper Dive: This week’s episode of the Restaurant Business podcast features Victor Fernandez, VP of insights and knowledge for GuestXM, to talk about full-service restaurants.

Operations

Foxtrot to reopen Chicago, Dallas, Austin locations

By Rachel Gignac and Chuck Ulie on Jun. 05, 2024

Mike LaVitola, founder of the retail-restaurant hybrid that abruptly shuttered in April, has started a new company to continue the business.

Financing

Welcome to the latest restaurant recession

By Jonathan Maze on Jun. 03, 2024

The Bottom Line: Bankruptcy filings, closures, strategic alternatives and a sudden value messaging all suggest the industry is in a tough spot. But many brands are still thriving.

Financing

Rubio's closes 48 restaurants in California

By Jonathan Maze on Jun. 02, 2024

The fast-casual taco chain, which declared bankruptcy in 2020, cited the state’s operating environment for the restaurant closures.

Financing

Red Lobster could close more than 100 additional restaurants if it can't renegotiate leases

By Joe Guszkowski on May 31, 2024

The 570-unit seafood chain already closed nearly 100 locations before filing for bankruptcy in May. But it may have to close others if it can't get better terms on lease payments.

Operations

How Red Lobster plans to get back on its feet

By Joe Guszkowski on May 23, 2024

As it heads for bankruptcy and a probable sale, the seafood restaurant chain laid out a turnaround strategy that includes tech upgrades and more “sensible” menu promotions.

Financing

Red Lobster gives private equity another black eye

By Jonathan Maze on May 22, 2024

The Bottom Line: The role a giant sale-leaseback had in the bankruptcy filing of the seafood chain has drawn more criticism of the investment firms' financial engineering. The criticism is well-earned.

Financing

Red Lobster's CEO is questioning the company's relationship with its owner

By Jonathan Maze on May 21, 2024

The casual-dining chain, which filed for bankruptcy this week, is probing whether its former CEO steered all its shrimp purchasing through the company's owner, Thai Union, a shrimp supplier.

Financing

Endless Shrimp becomes pivotal issue in Red Lobster bankruptcy

By Joe Guszkowski on May 21, 2024

The chain’s CEO alleged that the promotion may have pushed more shrimp business to its largest shareholder at Red Lobster’s expense, setting the stage for a messy Chapter 11 proceeding.

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