Thursday, September 12, 2024
Sitrick And Company represents BurgerFi International as the Fort Lauderdale casual “better burger” restaurant chain declares Chapter 11.
The company has 144 restaurants, including Anthony’s Coal Fired Pizza & Wings outlets. It lost $6.5M on $43M first-quarter sales
Carl Bachmann, CEO of BurgerFi, attributed the difficult start of the year to a challenging consumer environment and "unfavorable weather in key markets.”
The company filed Chapter 11 because of “a drastic decline in post-pandemic consumer spending amidst sustained inflation and increasing food and labor costs,” said Jeremy Rosenthal, Chief Restructuring Officer.
BurgerFi expects all of its restaurants will remain open and continue normal operations during the restructuring proceedings.