Financing

Noodles delays fiscal report filing

The fast-casual chain is pushing back its 10Q filing because of business interruption caused by COVID-19.
Noodles & Co.
Photograph: Shutterstock

Noodles & Co. is delaying the filing of its quarterly report due to the disruptions it has suffered because of the coronavirus, the company revealed in a filing Monday.

The form was due to be filed by Monday, but Noodles said it now intends to file it no later than June 24.

The fast-casual chain also said it is in discussions with its lenders regarding amendments to its financial covenant requirements for the remainder of this year and next.

Last week, the Broomfield, Colo.-based chain said its same-store sales had fallen more than 33% due to the impacts of COVID-19, up from minus 54.7% during the last week of March. Noodles said it had $61.1 million cash on hand and that it is burning through about $3 million per month.

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