Sizzler Is Filing For Bankruptcy Due To COVID-19
COVID-19 has affected yet another large chain. According to Business Insider, Sizzler is the latest restaurant to file for Chapter 11 bankruptcy.
Luckily, the company plans on keeping restaurants open through the process. Also, franchisees will not be impacted by the filing.
In a statement about the bankruptcy, Sizzler President Chris Perkins states, “Many restaurant brands across the country have suffered because of COVID-19 and Sizzler USA is no exception. Our current financial state is a direct consequence of the pandemic’s economic impact due to long-term indoor dining closures and landlords’ refusal to provide necessary rent abatements.”
A Business Insider points out, a recent survey from the National Restaurant Association says that nearly 100,000 restaurants have closed across the US since the pandemic began.
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