Sizzler files for bankruptcy as the pandemic demolishes sales at casual-dining restaurants - Business Insider

Richard Hartog/Getty Images"Our current financial state is a direct consequence of the pandemic's economic impact due to long-term indoor dining closures and landlords' refusal to provide necessary rent abatements," Sizzler President Chris Perkins said.

Other restaurant chains to file for bankruptcy during the pandemic include Maison Kayser, Souplantation, and California Pizza Kitchen. Sizzler is the latest restaurant chain to file for bankruptcy amid the coronavirus pandemic — filing for Chapter 11 in the U.S. Bankruptcy Court for the Northern District of California on Monday.

The company said in a filing that its goal is to keep restaurants open throughout the bankruptcy process, which will involve renegotiating leases for 14 company-owned locations. "Many restaurant brands across the country have suffered because of COVID-19 and Sizzler USA is no exception," Sizzler President Chris Perkins said in a statement. "Our current financial state is a direct consequence of the pandemic's economic impact due to long-term indoor dining closures and landlords' refusal to provide necessary rent abatements."

Sizzler said it aims to complete the Chapter 11 process within roughly 120 days. Franchisees — who own and operate the vast majority of locations — will not be impacted by the filing.

Another decades old legacy restaurant gone because of the pandemic. senatemajldr, SpeakerPelosi, & realDonaldTrump gave defense contractors 100s of millions in loans & grants. Because 'defense contractors' = donors. But mom & pop or smaller businesses? No, they can close.

Thanks a lot realDonaldTrump , we can't have anything nice anymore! This is the worst part about Covid!!

I went there a couple years ago and it was so nasty

They had the best salad bar.

WTF?! There are still Sizzlers? I had no idea. I haven't seen one in over 25 years. LOL! Perhaps that's why they're filing for bankruptcy?

They always had that clam chowder on tap

We’re going to the Sizzler.... not any more

Besides Covid, perhaps the menu was not in keeping with the population's eating trends?

I thought sizzler went out of business tears ago

Sizzler was real?

NUUUUUUUUHHHH!

Sizzler was still in business? 😮

Holy crap. The poors are really hurting

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Restaurants face another sales drag — the 2020 election - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Riots made it worse. 2 billion in damages!!!! I love to help restaurants. I set up commission free, independent online ordering systems. Stop giving away your profits and your customers to GrubHub, UberEats, Doordash!
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Media job seeker key takeaways during pandemic from top recruiters - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

GMAC: MBA hiring interest is back to where it was before the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Survey: 85% of Americans are paying more for groceries during pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. You are the new buzzfeed
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »