18 Restaurant Chains That Have Filed for Bankruptcy

John Csiszar
18 Restaurant Chains That Have Filed for Bankruptcy

The coronavirus pandemic has devastated the restaurant industry. By mid-April of 2020, an estimated 30,000 American restaurants had closed for good and more than 110,000 were expected to shutter by the end of October, according to estimates from the National Restaurant Association. And chain restaurants have not been immune from these closures. Some classic chain restaurants had already been facing tough times amid stiff competition from newer fast-casual restaurants, and were forced to close underperforming locations to cut their losses. The pandemic only made things worse.

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GOBankingRates rounded up all the major U.S. restaurants that have declared bankruptcy over the last year or so. Find out if your favorite spot is on the verge of extinction.

Last updated: April 12, 2021

Krystal
Krystal

Krystal Holdings
Bankruptcy date: Jan. 19, 2020
Assets: $401 million
Restaurant(s): Krystal
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Bar Louie
Bar Louie

Sun Capital Partners
Bankruptcy date: Jan. 27, 2020
Assets: N/A
Restaurant(s): Bar Louie
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pumpkin-pie
pumpkin-pie

American Blue Ribbon Holdings
Bankruptcy date: Jan. 27, 2020
Assets: $14 million
Restaurant(s): Village Inn, Baker’s Square
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Philadelphia Cheesesteak Flatbread or Panini sandwich made with steak, provolone cheese and saute onions and bell peppers.
Philadelphia Cheesesteak Flatbread or Panini sandwich made with steak, provolone cheese and saute onions and bell peppers.

Cosi
Bankruptcy date: Feb. 24, 2020
Assets: $40 million
Restaurant(s): Cosi
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Buffalo, New York, USA - September 22, 2019: The BRAVO Cucina Italiana restaurant at Walden Galleria in Buffalo; an Italian chain serving pasta, grilled dishes, pizza & cocktails amid Roman-ruin decor.
Buffalo, New York, USA - September 22, 2019: The BRAVO Cucina Italiana restaurant at Walden Galleria in Buffalo; an Italian chain serving pasta, grilled dishes, pizza & cocktails amid Roman-ruin decor.

FoodFirst Restaurants
Bankruptcy date: April 10, 2020
Assets: $307 million
Restaurant(s): Brio Tuscan Grill, Bravo Italian Kitchen
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Mandatory Credit: Photo by Brynn Anderson/AP/Shutterstock (10329278u)Plantation Police Department Sgt.
Mandatory Credit: Photo by Brynn Anderson/AP/Shutterstock (10329278u)Plantation Police Department Sgt.

TooJay's Management
Bankruptcy date: April 29, 2020
Assets: $50 million
Restaurant(s): TooJay’s Deli – Bakery – Restaurant
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spicy-tuna-roll
spicy-tuna-roll

Sustainable Restaurant Group
Bankruptcy date: May 12, 2020
Assets: $10 million
Restaurant(s): Bamboo Sushi, Quickfish
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Mandatory Credit: Photo by AFF-USA/Shutterstock (10646143b)SouplantationBusiness storefronts and signage in light of COVID-19 restrictions, Northridge, USA - 13 May 2020.
Mandatory Credit: Photo by AFF-USA/Shutterstock (10646143b)SouplantationBusiness storefronts and signage in light of COVID-19 restrictions, Northridge, USA - 13 May 2020.

Garden Fresh Restaurants
Bankruptcy date: May 14, 2020
Assets: $50 million

Restaurant(s): Souplantation, Sweet Tomatoes
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PHILADELPHIA, PA -4 OCT 2018- View of a Le Pain Quotidien restaurant on the street in downtown Philadelphia, Pennsylvania.
PHILADELPHIA, PA -4 OCT 2018- View of a Le Pain Quotidien restaurant on the street in downtown Philadelphia, Pennsylvania.

PQ New York 9
Bankruptcy date: May 27, 2020
Assets: $3 million

Restaurant(s): Le Pain Quotidien
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variety of different beers
variety of different beers

BarFly Ventures
Bankruptcy date: June 3, 2020
Assets: $1 million
Restaurant(s): HopCat, Stella’s Lounge, Grand Rapids Brewing Co.
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Chuck-E-Cheese-Entertainment
Chuck-E-Cheese-Entertainment

CEC Entertainment
Bankruptcy date: June 25, 2020
Assets: $1.7 billion
Restaurant(s): Chuck E. Cheese
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Mandatory Credit: Photo by Richard Drew/AP/Shutterstock (6138059a)A dish is prepped at the Fig & Olive restaurant, near New York's Rockefeller Center, in New York.
Mandatory Credit: Photo by Richard Drew/AP/Shutterstock (6138059a)A dish is prepped at the Fig & Olive restaurant, near New York's Rockefeller Center, in New York.

Luxury Dining Group
Bankruptcy date: July 3, 2020
Assets: $10 million
Restaurant(s): Fig & Olive
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Honolulu,HI, USA - November 25, 2016: California Pizza Kitchen: California Pizza Kitchen in the Ala Moana Center, Since 1985, CPK is know for it's innovative cuisine.
Honolulu,HI, USA - November 25, 2016: California Pizza Kitchen: California Pizza Kitchen in the Ala Moana Center, Since 1985, CPK is know for it's innovative cuisine.

Golden Gate Capital
Bankruptcy date: July 29, 2020
Assets: $13.5 million
Restaurant(s): California Pizza Kitchen
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Green spinach pasta with tomatoes and parsley.
Green spinach pasta with tomatoes and parsley.

K.G. IM LLC
Bankruptcy date: July 30, 2020
Assets: $50 million
Restaurant(s): Il Mulino

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Vegetable Salad With Cheese And Glasses Of Rakia On Wooden Table.
Vegetable Salad With Cheese And Glasses Of Rakia On Wooden Table.

Garbanzo Mediterranean Grill
Bankruptcy date: Aug. 12, 2020
Assets: 1 million
Restaurant(s): Garbanzo
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New York, New York, USA - November 7, 2019: Maison Kayser bakery and boulangerie on 34th Street in midtown Manhattan.
New York, New York, USA - November 7, 2019: Maison Kayser bakery and boulangerie on 34th Street in midtown Manhattan.

Cosmoledo
Bankruptcy date: Sept. 10, 2020
Assets: $10 million
Restaurant(s): Maison Kayser
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restaurant environment - honey pork rib steak with herb served on white plate dish with fresh salad in background.
restaurant environment - honey pork rib steak with herb served on white plate dish with fresh salad in background.

Sizzler USA
Bankruptcy date: Sept. 21, 2020
Assets: $1 million
Restaurant(s): Sizzler
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Kokomo - Circa August 2017: Ruby Tuesday Casual Restaurant Location.
Kokomo - Circa August 2017: Ruby Tuesday Casual Restaurant Location.

NRD Capital Management
Bankruptcy date: Oct. 7, 2020

Assets: $146 million
Restaurant(s): Ruby Tuesday

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Jordan Rosenfeld contributed to the reporting for this article.Please note photos are for illustrative purposes only. Some photos are representational and might not depict the restaurant chains listed in this article.

This article originally appeared on GOBankingRates.com: 18 Restaurant Chains That Have Filed for Bankruptcy

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