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Within the restaurant industry, several major chains have faced their fair share of financial issues. For some, this has led to numerous closures. For others, this has prompted the creation ofWith this in mind, your favorite restaurant chain may look a little bit different in the coming months—or it could be gone for good. From sit-down restaurants to fast-casual eateries, here are seven chains that have been recently struggling.
"The combination of COVID-19 pandemic, sustained industry headwinds, higher interest rates and rising material and labor costs have impacted Red Lobster, resulting in prolonged negative financial contributions to Thai Union and its shareholders," Thai Union wrote in a In January, a U.S. District Judge ordered Boston Market to pay $15 million to US Foods, an American food service distributor, in a lawsuit surrounding unpaid bills. The restaurant chain has filed an appeal to this ruling.because of inflation-related challenges. Specifically, a Denny's location previously needed $1 million to break even and stay open. Now, it requires $1.2 million, as noted by Robert Verostek, Denny's CFO, during the chain's recent fourth-quarter.
Going forward, Noodles & Co. plans to find success by focusing on several different areas of its business, most notably the menu.
Source: Entertainment Trends (entertainmenttrends.net)
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