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Restaurant Industry Commercial Bankruptcy

Greenberg Glusker LLP

Vegan Chain Planta Seeks Relief Through Reorganization

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The recent Chapter 11 bankruptcy filing by Planta, a well-known vegan restaurant chain, reflects the mounting financial challenges facing the restaurant sector, particularly for specialty and plant-based establishments. While...more

Stark & Stark

TGI Friday’s Files for Chapter 11 Bankruptcy Protection

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​​​​​​​Dallas-based TGI Friday’s, which started in Manhattan in 1965 and was one of the first chains to capitalize on the “happy hour” concept, filed for Chapter 11 bankruptcy protection on Saturday in the Northern District...more

Kerr Russell

TGI … Bankruptcy? Another restaurant chain contemplates Chapter 11

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Chapter 11 bankruptcy continues to be a featured menu item for struggling restaurant chains. According to Bloomberg, TGI Fridays is the latest restaurant chain to contemplate a Chapter 11 bankruptcy filing. TGI Fridays is...more

Arnall Golden Gregory LLP

Restructuring Roundup - September 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Stoel Rives LLP

What Landlords Should Know When Restaurant Tenants Go Under

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As anyone who has watched FX’s The Bear knows, running a restaurant is hard work. When restaurants occupying leased commercial space fail, commercial landlords need a gameplan to protect their interests. Some key...more

Arnall Golden Gregory LLP

Restructuring Roundup - August 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Arnall Golden Gregory LLP

Restructuring Roundup - July 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Lowndes

Four Things to Know about Red Lobster’s Bankruptcy Filing

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The tides have turned for Red Lobster, the iconic seafood dining destination, as the company has filed for Chapter 11 bankruptcy protection. As the restructuring process unfolds, it's crucial for customers, employees, and...more

Clark Hill PLC

The Learned Concierge - November 2023, Vol. 2

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The Learned Concierge Welcome to your monthly legal insights on the trends impacting the Retail, Hospitality, and Food & Beverage Industries....more

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses – May 2021 #2

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Protecting Your Company Against Revenue Clawbacks: Preference Actions (Part 3 of 3) - This is the final part of our three-part series on revenue clawbacks. The scenario: a customer or teaming partner goes bankrupt and then...more

McDermott Will & Schulte

[Webinar] Restructuring Webinar Series - Restructuring in the restaurant and retail sectors - February 4th, 2:00 pm EST

The restaurant and retail industries are tough even in the best of times. Impacts from the COVID-19 pandemic will continue to push struggling restaurant chains and retail stores to file for Chapter 11 protection. This session...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, October 2020 # 5

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In Washington: After halting coronavirus stimulus negotiations on Tuesday afternoon, President Donald Trump hours later signaled he would support specific coronavirus relief measures on stimulus checks, help for the...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – August 2020 #1

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In Washington - The divide between Democrats and Republicans continues as talks today have still resulted in no deal on a new coronavirus stimulus package. House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck...more

Holland & Knight LLP

Food and Beverage Law Update: July 2020

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Noel R. Boeke Since COVID-19 hit, there has been a wave of bankruptcies in the food and beverage industry, and more are expected to follow. See, e.g., In re TooJay's Management LLC et. al., No. 9:20-bk-14857 (Bankr. S.D. Fla....more

Epiq

Pandemic Continues to Force Businesses to Explore Bankruptcy

Epiq on

The COVID-19 pandemic has affected the U.S. economy so deeply that it will take a long time for businesses to recover, if they can recover at all. Many commercial industries have been turned upside down in the course of just...more

Gould + Ratner LLP

5 Things You Need to Know About the Recent Illinois Ruling on Force Majeure and COVID-19

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The first reported substantive ruling by a judge sitting in Illinois on the legal implications of whether COVID-19 and the resulting governmental shelter-in-place orders relieve a tenant’s obligation to pay rent pursuant to a...more

Rumberger | Kirk

Surviving a Rough Patch

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During the current pandemic, people and companies have choices as to how they will respond. These responses will run the gamut of emotions and practices. For some, willful ignorance and a refusal to change will be the path...more

Robins Kaplan LLP

Financial Daily Dose 6.26.2020 | Top Story: Federal Reserve Limits Bank Payouts and Suspends Share Buybacks

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The Federal Reserve has “temporarily restricted shareholder payouts by the biggest banks,” preventing stock buybacks and barring increases in dividend payments in the third quarter. ...more

A&O Shearman

Northern District Of Illinois Bankruptcy Court Holds That Executive Order Barring Restaurant Operations On-Premises In Light Of...

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 On June 2, 2020, Judge Donald R. Cassling of the United States Bankruptcy Court for the Northern District of Illinois held that a state executive order suspending dine-in services to address the COVID-19 pandemic (the...more

White & Case LLP

Relaxation not an option for leisure and hospitality sectors

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The COVID-19 lockdown forced restaurants, hotels, gyms, theaters and casinos to shut their doors and put balance sheets under extreme strain, but some have tapped debt markets to see them through - The availability and...more

White & Case LLP

Cracks show in retail as debt burden begins to bite

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Retailers faced a difficult financing market before COVID-19 appeared, but lockdowns have made the situation even tougher. High yield and leveraged loan values for retailers in North America and Western and Southern Europe...more

White and Williams LLP

Recipe for Survival: What Restaurants Should “Takeaway” From Recent Retail Bankruptcies

In the best of times, the restaurant industry is notorious for its carpaccio-thin profit margins. Now, COVID-19 has forced most restaurants to limit service to delivery/takeaway, or shut their doors altogether. Similar to...more

Spilman Thomas & Battle, PLLC

The Impending Seismic Shift for Distressed Small Businesses?

As we all know by now, much of our day-to-day lives have been upended by the COVID-19 pandemic. We are being told by everyone everywhere - the CDC, the President, governors, mayors, public health officials - we need to...more

Robins Kaplan LLP

Financial Daily Dose 3.17.2020 | Top Story: The Bear Market Roars, with Markets Falling nearly 13% as Whole Sectors of US Economy...

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As Americans [way-too] slowly come to the realization that COVID-19 is a very real and very present threat, the business world is changing around them at a staggering pace. Stocks nosedived again on Monday, with the three...more

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