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Chain Apocalypse. This year was a bloodbath for retail and dining businesses. In the first nine months of 2024, business bankruptcy filings skyrocketed 33.5%, jumping from 17,051 to 22,762.
The popular restaurant chain even reportedly sold upwards of $300 million in asset-backed bones in 2021. Related: This Beloved Sandwich Chain Just Shut Down For Good–Here's Why
Abandoned Steak and Ale restaurant, Westminster Mall, Colorado (2011) Steak and Ale is an American chain of restaurants that was influential in the growth of casual dining. Founded in 1966, it achieved major success in the 1970s and 1980s before declaring Chapter 7 bankruptcy proceeding and closing its remaining 58 locations on July 29, 2008. [1]
Here are the 10 notable restaurant chains that filed for bankruptcy protection in 2024: Roti Mediterranean fast-casual chain Roti filed for Chapter 11 bankruptcy protection on Aug. 23.
Sam Wyly and his brother Charles Wyly bought the small Bonanza restaurant chain three years later. The company grew to approximately 600 restaurants by 1989, [5] when the Wylys sold it to Metromedia. [6] In 1965, Dan Lasater, Norm Wiese and Charles Kleptz founded Ponderosa in Kokomo, Indiana, moving the headquarters to Dayton, Ohio, in 1971. [7]
As a result, Hostmore, after closing 35 restaurants, filed for what would be the U.K.'s equivalent of American bankruptcy. Related: The Houston Restaurant Simone Biles Says ‘Never Misses’
Bracewell LLP is an international law firm based in Houston, Texas, that began in 1945.The firm has approximately 350 lawyers, and has United States offices in New York City, Washington, D.C., San Antonio, Seattle, Dallas and Austin, as well as offices in Dubai, Paris and London.
FoodFirst Restaurants Bankruptcy date: April 10, 2020 Assets: $307 million Restaurant(s): Brio Tuscan Grill, Bravo Italian Kitchen Find Out: Creative Ways Small Businesses Stayed Open the Past Year.
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