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The coronavirus pandemic and ensuing shutdown have had a massive impact on restaurants, with industry sales at one point cut in half compared tolast year. Some chains that had been struggling before the pandemic were unable to weather the storm.
Seven chains have declared bankruptcy, though thesemay well be the tip of the iceberg, as HopCat CEO Mark Sellers said after his chain filed earlier this month. Here’s a look at the restaurant chains that have filed for credit protection since the shutdown began.
Vapiano
The German chain of Italian fast casuals filed an application in Cologne, Germany, to open insolvency proceedings in early April.
It operated six units in the U.S. and blamed its financialproblemson…
Read the full article at: https://www.restaurantbusinessonline.com/financing/these-restaurant-chains-have-declared-bankruptcy-due-coronavirus
