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finance

Operations

BurgerFi defaults on its credit agreement

 By Lisa Jennings on Apr. 01, 2024

The parent company of the BurgerFi and Anthony's Coal Fired Pizza & Wings restaurant chains fell out of compliance with its loan agreement amid weak sales and financial losses. But the CEO insists turnaround efforts are taking hold.

Emerging Brands

Punch Bowl Social plans growth with two acquired concepts

 By Lisa Jennings on Mar. 29, 2024

Chicago-based eatertainment chain Punch Bowl Social has acquired two new brands that it plans to grow. One is karaoke-concept Voicebox and the other is an immersive art experience called Sweet Tooth Hotel. Both have cocktail bars.

Financing

Minor league baseball players indicted for insider trading on the 2022 Del Taco sale

By Jonathan Maze on Mar. 27, 2024

Jordan Qsar, Grant Witherspoon, Chase Lambert and Austin Bernard were accused of trading stocks after learning that the Mexican restaurant chain would be sold to Jack in the Box.

Operations

MasterCard and Visa offer temporary reductions in swipe fees

By Peter Romeo on Mar. 26, 2024

The credit card giants have agreed to roll back the charges and freeze those rates for five years. But industry advocates aren't enthused about the offer.

Financing

Chipotle announces a 50-for-1 stock split

By Jonathan Maze on Mar. 19, 2024

The fast-casual Mexican restaurant chain is also giving general managers and longtime employees a one-time equity grant. The stock split, the company's first in its history, will take place in June.

Operations

Shake Smart to grow with investment from NewSpring Franchise

By Lisa Jennings on Mar. 14, 2024

Known for protein shakes, smoothies and more, the 45-unit chain is primarily on college campuses.

Operations

Eatertainment concept wins Danny Meyer-affiliated investment

By Lisa Jennings on Mar. 13, 2024

Enlightened Hospitality Investments supports Five Iron Golf with $20 million to help open Grand Central Station flagship.

Financing

Revamped loyalty program drives sales at Potbelly

By Heather Lalley on Mar. 08, 2024

The sandwich chain said its fast-growing digital business is shifting customers away from third-party channels, with loyalty membership growing nearly 90% during the fourth quarter.

Financing

This would be a bad time for a Panera IPO

By Jonathan Maze on Mar. 07, 2024

The Bottom Line: The fast-casual chain has wanted to go public for years. But controversies, lawsuits, a menu overhaul and an ingredient downgrade made that a bad idea.

Technology

AI supplier Presto still 'very open for business,' despite financial challenges

By Joe Guszkowski on Mar. 06, 2024

The company raised enough cash to get through the middle of the month and has a long-term capital plan, its chairman said.

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