Finances and Deals
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10 of the restaurant industry’s most impactful bankruptcies of 2024
While dozens of brands and operators filed for bankruptcy this year, a sample of major filings show a range of problems from rising labor costs to low traffic.
By Aneurin Canham-Clyne • Dec. 5, 2024 -
Permission granted by BurgerFi
BurgerFi sells its assets for $54M
CEO Carl Bachmann has left the chain after holding the post for over a year, joining Anthony’s Coal Fired Pizza and Wings’ new owner.
By Aneurin Canham-Clyne • Dec. 3, 2024 -
Explore the Trendline➔
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TrendlineRestaurant Financing
With ongoing macroeconomic pressures facing restaurants, operators are entering into alternative financing, mergers and acquisitions and even bankruptcy to sustain their businesses.
By Restaurant Dive staff -
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Jersey Mike’s sells majority stake to Blackstone
The transaction, which is expected to close early next year, will allow the sandwich chain to accelerate its growth and invest further in technology.
By Julie Littman • Nov. 19, 2024 -
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Sponsored by GivexCustomer retention relies on what you bring to the table
Serve up the best strategy for loyalty: Bring guests back with a tailored loyalty program.
Nov. 11, 2024 -
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Buca di Beppo to be sold to stalking horse bidder for $27M
Main Street Capital Corporation originally provided the chain a loan of $47 million in 2015 and will buy it out of bankruptcy.
By Julie Littman • Nov. 6, 2024 -
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Why TGI Fridays filed for bankruptcy
The casual chain’s fortunes soured this year as scores of stores shut and bondholders took control of its assets, ending a proposed merger.
By Aneurin Canham-Clyne • Nov. 4, 2024 -
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Chipotle remains focused on core strategy, efficiency improvements, interim CEO says
Under Scott Boatwright, Chipotle aims to follow a steady course and carry out key initiatives like adding expediters and back-of-house equipment to boost throughput.
By Julie Littman • Oct. 30, 2024 -
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McDonald’s US comp sales turn positive in Q3
The fast food giant gained traffic with the help of its $5 Meal Deal and expects to release a holistic value platform in early 2025.
By Julie Littman • Oct. 29, 2024 -
Roman Tiraspolsky via Getty Images
TGI Fridays has closed 60 stores since September
The casual dining chain, which may be considering bankruptcy after a failed merger, has closed roughly 100 stores since January.
By Aneurin Canham-Clyne • Oct. 28, 2024 -
M.O. Stevens. (2009). Retrieved from Wikimedia Commons.
Shari’s closes remaining Oregon restaurants
The casual chain, which had 42 locations in the state at the beginning of this year and has faced financial difficulties, has an estimated 17 locations left in the Northwest.
By Julie Littman • Oct. 22, 2024 -
Courtesy of Dickey's Barbecue Pit
Dickey’s franchisees sue company over inflated financial projections
Franchisees from Idaho and Ohio say that buildout costs were higher and sales lower than what the barbecue chain initially stated.
By Aneurin Canham-Clyne • Oct. 18, 2024 -
Courtesy of Chipotle
Chipotle makes minority investment in Mediterranean fast casual concept
As part of its Cultivate Next venture fund, Chipotle invested in six-unit Brassica as well as artificial intelligence supply chain platform Lumachain.
By Julie Littman • Oct. 15, 2024 -
Courtesy of 7-Eleven
7-Eleven shuttering 444 North American stores amid strategic pivot
The retailer also aims to generate $520 million through sale-leasebacks of an undisclosed number of stores as its parent company slashes its profit forecast and spins off non-core segments.
By Brett Dworski • Oct. 10, 2024 -
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Applebee’s franchisee files for bankruptcy after creditor lawsuit
Louisiana Apple’s major creditor, City National Bank of Florida, claimed the operator and the brand transferred control of its restaurants in a breach of credit agreements.
By Aneurin Canham-Clyne • Oct. 9, 2024 -
Aneurin Canham-Clyne/Restaurant Dive
9 restaurant industry trade shows to attend in 2025
The coming year is brimming with restaurant conferences and trade shows covering key issues for the business sector, from franchising strategy to economic forecasts.
By Restaurant Dive Staff • Oct. 1, 2024 -
Courtesy of Presto Automation
Presto Automation puts itself up for sale
The tech firm, which was delisted from the Nasdaq earlier this year, does not anticipate changes to its operations as a result of a sale.
By Aneurin Canham-Clyne • Sept. 24, 2024 -
Permission granted by BurgerFi
BurgerFi secures funds to operate through bankruptcy
A court approved $3.5 million in funding from TREW Capital Management, giving the burger brand sufficient cash to operate without closing stores.
By Aneurin Canham-Clyne • Sept. 17, 2024 -
Permission granted by MOD Pizza
Mod Pizza will refranchise corporate stores
The pizza chain’s new owner, Elite Restaurant Group, is undertaking a comprehensive refranchising effort at the largely company-operated brand.
By Aneurin Canham-Clyne • Sept. 13, 2024 -
Permission granted by BurgerFi
BurgerFi declares bankruptcy
The company has struggled with same-store sales declines and net losses for several quarters, mirroring the problems of recent Chapter 11 filings for Red Lobster and Buca di Beppo.
By Julie Littman , Aneurin Canham-Clyne • Updated Sept. 11, 2024 -
Bruce Bennett via Getty Images
TGI Fridays acquisition falls through, bondholders seize assets
Hostmore still wants to sell its restaurants after the U.K. franchisee’s acquisition plan was torpedoed by the casual dining brand's manager termination event.
By Aneurin Canham-Clyne • Sept. 9, 2024 -
Permission granted by Modern Market Eatery
Thrive Restaurant Group buys Modern Market Eatery
Thrive previously committed to opening 41 units as Modern Market’s largest franchisee, but felt that buying the brand was a natural next step in its growth.
By Julie Littman • Sept. 6, 2024 -
Brandon Bell via Getty Images
Court approves Red Lobster’s restructuring, buyout plan
The seafood chain will emerge from bankruptcy with P.F. Chang’s former CEO at the helm and $60 million in new funding.
By Julie Littman • Sept. 6, 2024 -
Courtesy of Topgolf
Topgolf will be spun off by its parent company
Management pursued a full strategic review of Topgolf following disappointing same-venue sales, and determined separate companies would enhance strategic focus.
By Julie Littman • Sept. 5, 2024 -
Playa Bowls acquired by Sycamore Partners
Under previous owner Tamarix, the fruit bowl chain added over 150 locations. It expects to speed up growth under its new owner.
By Julie Littman • Sept. 4, 2024 -
David Ryder via Getty Images
Investor sues Starbucks, alleging ‘false and misleading statements’
The shareholder claims the company provided false information about its overall performance and growth potential outside of the U.S. Starbucks said the allegations are without merit.
By Julie Littman • Aug. 30, 2024
