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International Business Times
International Business Times
Business
Luke Funk

BurgerFi Restaurant Chain Files For Chapter 11 Bankruptcy Protection

BurgerFi Red Lobster
A BurgerFI employee prepares an order on August 20, 2024 in Arlington, Virginia. BurgerFi International warns of possible bankruptcy, joining a growing list of embattled restaurant brands in 2024. (Credit: Tierney L. Cross/Getty Images)

BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) which owns BurgerFi and casual dining chain Anthony's Coal Fired Pizza & Wings has filed for Chapter 11 bankruptcy protection as it tries to dig itself out of a financial hole.

The bankruptcy only affects its 67 corporate locations. A majority of its 144 locations are franchisee-owned. The company says it does not plan to close any locations during the reorganization. It previously closed 18 locations.

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