Long-term indoor dining closures have devastated the casual-dining industry throughout the COVID-19 pandemic, leading many restaurant groups in the sector to declare bankruptcy. Victims have ranged from Ruby Tuesday to Sizzler.
But it wasn’t only casual-dining that took the hit. Fast-casual chains such as Rubio’s and By Chloe also fell victim.
Some franchisees also suffered.
NPC International, one of the largest franchisees of Pizza Hut and Wendy’s, declared bankruptcy, as did IHOP franchisee CFRA Holdings, Applebee’s franchisee Wisconsin Apple LLC and Golden Corral franchise group 1069 Restaurant Group LLC.
Golden Corral and Souplantation — two restaurant chains that rely heavily on buffet-style dining — struggled heavily throughout 2020, and the latter declared bankruptcy midway through the pandemic, closing every location.
Several groups that declared bankruptcy, including Bar Louie, Sustainable Restaurant Holdings, TooJay’s, California Pizza Kitchen and more, were either bought out of bankruptcy or emerged out of Chapter 11 restructuring.
See which restaurant chains and franchisees have so far declared bankruptcy during the pandemic.
