{"id":2260004,"date":"2024-06-04T22:19:02","date_gmt":"2024-06-05T02:19:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-national-burger-chain-considers-chapter-11-bankruptcy\/"},"modified":"2024-06-04T22:24:41","modified_gmt":"2024-06-05T02:24:41","slug":"bidenomics-national-burger-chain-considers-chapter-11-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-national-burger-chain-considers-chapter-11-bankruptcy\/","title":{"rendered":"Bidenomics Impact: Major Burger Chain Faces Chapter 11 Consideration"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-national-burger-chain-considers-chapter-11-bankruptcy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2260004&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The news\u200d discusses the challenges \u200cfaced by restaurant chains due \u200bto Bidenomics and COVID, leading to BurgerFi International considering Chapter 11 bankruptcy. The company operates upscale dining brands and is\u200b undergoing strategic reviews amid financial issues and delisting from Nasdaq.\u200b The \u2064article highlights the broader struggles of national chains like Red Lobster and TGI Friday&#8217;s facing similar financial distress.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/news\/\">  News <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/igcolonel\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/igcolonel\/%20\"><span>Warner Todd Huston<\/span><\/a> <\/span> <span>   June 4, 2024 at 6:05pm <\/span> <\/span>  <\/header>\n<section>\n<p>The atmosphere for restaurant chains across the country has been tough with the twin pressures of Bidenomics and COVID serving as a one-two punch to destroy so many companies. And this week, yet another chain is considering a filing for Chapter 11 bankruptcy.<\/p>\n<p>BurgerFi International has announced that it will likely file for bankruptcy protection.<\/p>\n<p>The company <a href=\"https:\/\/acfp.com\/locations\" target=\"_blank\" rel=\"noopener\">operates<\/a> Anthony\u2019s Coal Fired Pizza &#038; Wings, which operates across eight states in the northeast, and the burger chain, BurgerFi, also <a href=\"https:\/\/www.burgerfi.com\/wp-content\/uploads\/2020\/03\/Participating-Locations-1.pdf\" target=\"_blank\" rel=\"noopener\">across<\/a> the Eastern Seaboard.<\/p>\n<p>Anthony\u2019s Coal Fired Pizza &#038; Wings has 59 locations, and BurgerFi has 122 locations.<\/p>\n<p>The company\u2019s two <a href=\"https:\/\/www.westernjournal.com\/two-massive-restaurant-chains-may-joining-together-report\/\" target=\"_blank\" rel=\"noopener\">chains<\/a> are called \u201c<a href=\"https:\/\/ir.burgerfi.com\/\" target=\"_blank\" rel=\"noopener\">fast-casual<\/a>\u201d establishments, meaning that they are a bit fancier than your typical Burger King, McDonald\u2019s or Taco Bells. Less than a decade ago, it was thought that these restaurant chains were the future of fast-food. But since COVID shut down so many restaurants \u2014 many never to return \u2014 and the economy has taken such a downward spiral in this era of Bidenomics, the upscale trend seems to be under threat of bottoming out.<\/p>\n<p>The company made its announcement on Monday, saying in a news release, \u201cBurgerFi International, Inc. owner of the high-quality, casual dining pizza brand under the name Anthony\u2019s Coal Fired Pizza &#038; Wings (\u2018Anthony\u2019s\u2019) and one of the nation\u2019s leading fast-casual \u2018better burger\u2019 dining concepts through the BurgerFi brand, announced today several key initiatives with the goal of enhancing the company\u2019s prospects and ensuring stable management as the company goes through the process of reviewing strategic alternatives,\u201d according to <a href=\"https:\/\/www.thestreet.com\/restaurants\/popular-burger-and-pizza-chains-consider-bankruptcy-liquidation\" target=\"_blank\" rel=\"noopener\">The Street<\/a>.<\/p>\n<p>The company had already been delisted from the Nasdaq in January after its stock prices collapsed. Stock was only 32 cents per share on Monday, the U.K.\u2019s <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13490413\/National-burger-chain-closures-bankruptcy.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a> added.<\/p>\n<p>BurgerFi also noted that filing for <a href=\"https:\/\/www.westernjournal.com\/ap-lordstown-motors-files-chapter-11-bankruptcy-protection\/\" target=\"_blank\" rel=\"noopener\">Chapter 11<\/a> protection will not necessarily fix its issues, adding in its statement, \u201cThere can be no assurance, however, that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cnn-fires-hack-reporter-chris-cillizza\/\" title=\"CNN Fires Hack Reporter Chris Cillizza\">strategic review process<\/a> will result in an outcome favorable to the company or its stakeholders.\u201d<\/p>\n<p>This is not a sudden move, of course. BurgerFi defaulted on its credit obligations in April and had been allowed a forbearance until July 31. The company has also secured a $2 million loan while it considers this reorganization process.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Should Biden be voted out of office?<\/p>\n<\/p><\/div>\n<p>But the company warned that it still might not make it through the process intact.<\/p>\n<p>BurgerFi also noted that situations could render them unable to remain in business, saying, \u201cOur ability to continue to access liquidity, to pursue and enter into a strategic transaction or seek a strategic transaction while in bankruptcy protections, to maintain our listing on the Nasdaq Stock Exchange, and to continue as a going concern.\u201d<\/p>\n<p>BurgerFi is hardly alone. Indeed, it is just one of many national chains of one sort or another in deep financial problems.<\/p>\n<p>In May, for instance, national seafood restaurant Red Lobster announced it was <a href=\"https:\/\/www.westernjournal.com\/red-lobster-files-bankruptcy-announces-stalking-horse-sale\/\" target=\"_blank\" rel=\"noopener\">filling<\/a> for bankruptcy.<\/p>\n<p>Another once big name chain, TGI Friday\u2019s also <a href=\"https:\/\/www.westernjournal.com\/bidenomics-restaurant-bloodbath-continues-tgi-fridays-joins-applebees-red-lobster-closures\/\" target=\"_blank\" rel=\"noopener\">filed<\/a> for bankruptcy in Florida.<\/p>\n<p>Rival chain Applebees is also having major issues, <a href=\"https:\/\/www.today.com\/food\/news\/applebees-locations-closing-2024-rcna151261\" target=\"_blank\" rel=\"noopener\">closing<\/a> 35 restaurants in May.<\/p>\n<p>Restaurants are not the only major American businesses collapsing. National fabric and sewing supply company Joann and <a href=\"https:\/\/www.westernjournal.com\/major-retailer-files-chapter-11-bankruptcy-81-years-business\/\" target=\"_blank\" rel=\"noopener\">filed<\/a> for bankruptcy this year.<\/p>\n<p>Bed Bath &#038; Beyond also <a href=\"https:\/\/www.westernjournal.com\/large-us-retailer-files-chapter-11-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">told<\/a> its investors that it filed reorganization under Chapter 11 in April. The company said that it had $4.4 billion in assets and $5.2 billion in debt, <a href=\"https:\/\/www.cnn.com\/2023\/04\/23\/business\/bed-bath-beyond-bankruptcy\/index.html\" target=\"_blank\" rel=\"noopener\">CNN<\/a> reported.<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime. <\/span><\/i><\/p>\n<p><i><span>We here at The Western Journal are committed to covering it in a way the establishment media simply will not: We will tell the truth, and they will lie.<\/span><\/i><\/p>\n<p><i><span>But Big Tech and the elites don\u2019t want the truth out. That\u2019s why they have cut us off from 90% of advertisers. Imagine if someone cut your monthly income by 90%. That\u2019s what they\u2019ve done to people like us. <\/span><\/i><\/p>\n<p><i><span>As a staff, we are asking you to <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to fight this once-in<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/caitlin-clark-lands-historic-nike-shoe-deal-worth-millions-just-before-her-rookie-season-kicks-off\/\" title=\"Caitlin Clark Secures Multi-Million Dollar Nike Deal Ahead of Rookie Season Kickoff\">-a-lifetime fight<\/a>. Without you not only will The Western Journal fail, but America will fail also. As Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>Will you support The Western Journal today and <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>become a member<\/span><\/i><\/a><i><span>? <\/span><\/i><\/p>\n<p><i><span>A Western Journal <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Membership<\/span><\/i><\/a><i><span>  costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>This is the time. America will live or die based on what happens this year. Please <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.<\/span><\/i><\/p>\n<p><b><i>Thank you for your support!<\/i><\/b><\/p>\n<p><i><span>P.S. <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Please stand with us<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-43\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/igcolonel\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-43\">Summary<\/label><label for=\"more-info-tab-radio-43\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-43\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-43\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Warner Todd Huston has been writing editorials and news since 2001 but started his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/byron-donalds-takes-shot-at-host-of-the-view-dares-panel-to-invite-him-on-as-a-guest\/\" title=\"Byron Donalds Takes Shot at Host of 'The View,' Dares Panel to Invite Him On as a Guest\">writing career penning articles<\/a> about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN and several local Chicago news programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a &#8220;target-rich environment&#8221; for political news. Follow him on Truth Social at @WarnerToddHuston.<\/p>\n<\/p><\/div>\n<div>\n<p>  Warner Todd Huston has been writing editorials and news since 2001 but started his writing career penning articles about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN and several local Chicago news programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a &#8220;target-rich environment&#8221; for political news. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a challenging climate fueled by Bidenomics and COVID, restaurant chains are facing immense pressure. This week, BurgerFi International contemplates filing for Chapter 11 bankruptcy amidst the struggle to survive. (55 words)<\/p>\n","protected":false},"author":180,"featured_media":2260005,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/Chapter-11-Bankruptcy.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2260004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/Chapter-11-Bankruptcy.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/180"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2260004"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2260005"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2260004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2260004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2260004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}