Fatburger's California and Nevada subsidiaries filed for bankruptcy and are in need of loan restructuring. Indications are their Fatburger locations, 32 in all, will stay open during the proceedings. The bankruptcy affects more than a third of all Fatburger stores.
restaurants: April 2009 Archives
This weekend's New York Times consumer-economy article is about overcapacity in the nation's restaurants. Stores-to-customers ratios have actually been in decline since 2005, leading to significant overcapacity that is making a difficult economy even worse. Forecasters are expecting as many as 20,000 net restaurant closings in the next few years as consumers' spending adjustments solidify.
