Fast Food Chain BurgerFi Files for Chapter 11 Bankruptcy (1)

US burger chain BurgerFi International, Inc., which once aimed at challenging industry giant Shake Shack, has filed for Chapter 11 bankruptcy protection on Wednesday in Delaware.

The restaurant chain, which also owns pizza franchise Anthony’s Coal Fired Pizza, listed $50 million to $100 million in assets and $100 million to $500 million in debt, according to court papers.

The procedure is a result of “a drastic decline in post-pandemic consumer spending amidst sustained inflation and increasing food and labor costs” Jeremy Rosenthal, BurgerFi’s chief restructuring officer who was hired in August, said in a Wednesday statement.

Established ...