Bankruptcy

Financing

Is the plant-based meat trend dead?

The Week in Restaurants: This week’s episode of the restaurant news discussion podcast looks at the Planta bankruptcy, McDonald’s chicken strips, Cava’s sales and Wingstop.

Financing

Plant-based restaurant chain Planta files for bankruptcy

The upscale vegan chain is the latest full-service restaurant concept to seek debt protection, as demand for plant-based meat wanes.

The deal would nearly double the footprint of Houston-based Pappas Restaurants and give it the second-largest Mexican casual-dining chain in the country.

The pizza chain cut its debt, focused on its core product and found life beyond the mall, all of which helped it thrive despite two bankruptcy filings.

PB Restaurants, the owner of two shuttered locations of the movie-themed casual-dining restaurant, has a net worth of negative $46 million and was facing claims from a former lender.

The Italian casual-dining chain has been shrinking for years. It plans to refocus its efforts on a new fast-casual format, Bertucci's Pronto.

The Bottom Line: The casual-dining chain’s owners loaded the company up with too much debt coming out of the pandemic. The result was a predictable bankruptcy.

The Week in Restaurants: This week’s episode features a discussion on Burger King, a look at Raising Cane’s and KFC and more takeaways from the Restaurant Leadership Conference.

America’s first breastaurant chain started as a joke and then became a juggernaut. Now, forced into bankruptcy by debt, inflation and some questionable decisions, it is hoping for a second chance, back where it all began.

Consolidated Burger Holdings, which operates 57 locations in Florida and Southern Georgia, declared Chapter 11 bankruptcy after a dispute with the company over remodels and amid heavy debt.

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