BurgerFi filed for Chapter 11 bankruptcy protection, citing “substantial doubt” about its future operations. The restaurant industry is struggling with declining traffic and rising interest rates, leading many to face similar challenges. BurgerFi was founded in 2011 and went public via a special purpose acquisition company in 2020. It later acquired Anthony’s Coal Fired Pizza & Wings. The company operates over 160 restaurants, half of which are franchises.
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00:00It's Benzinga, and here's what's on the block.
00:02BurgerFi filed for Chapter 11 bankruptcy protection, citing substantial doubt about its future
00:07operations.
00:09The restaurant industry is struggling with declining traffic and rising interest rates,
00:13leading many to face similar challenges.
00:15BurgerFi was founded in 2011 and went public via a special-purpose acquisition company
00:19in 2020.
00:21It later acquired Anthony's Coal-Fired Pizza and Wings.
00:24The company operates over 160 restaurants, half of which are franchises.
00:28For all things money, visit Benzinga.com.