Needing cash, restaurant companies tap their banks

Several companies have drawn down on revolving credit lines as they seek to build up cash to get through a rough period.


Restaurant stocks get crushed again as coronavirus fears persist

Investors continued to flee from the industry amid recession concerns and stock market volatility.

Black Box Intelligence said it expects weak sales this year amid steep declines in areas hit by COVID-19 and mounting risks of an economic slowdown.

Stocks plunged amid an oil price war and coronavirus fears, continuing a two-week run of high volatility.

A Fitch Ratings report says Steak ‘n Shake and Checkers are at risk in a worsening operating environment, says RB’s The Bottom Line.

Vintage Capital is commencing a proxy fight to land four seats on the restaurant company’s board. It alleges that current directors haven’t been forthcoming about acquisition offers.

The delivery provider has filed confidential registration statements for an initial public offering.

MTY Group said it needs time to address complaints made by a whistleblower, which it deemed “frivolous.”

The acquisition will combine a major lender to restaurants with an investment bank that has closed more than 500 deals in the industry.

The struggling fast-casual chain expects to raise $7.7 million in its offering.

  • Page 1