Popular burger chain with locations in 22 states files bankruptcy – customers see its restaurant brands abruptly closing [Video]

BURGERFI, a fast-casual burger chain, has filed for Chapter 11 bankruptcy protection after closing down several restaurants.

The filing was made on September 11, marking a significant moment for the well-known chain.

According to the filing in the District of Delaware, BurgerFi and Anthony’s Coal Fired Pizza — which is owned by the burger chain — report assets ranging from $50 to $100 million and liabilities reaching up to $500 million, per National Restaurant News.

This bankruptcy filing comes less than a month after BurgerFi warned investors of potential financial trouble, per the outlet.

The company noted that it was unable to report its latest quarterly earnings on time due to “significant adverse developments” affecting its business and liquidity.

The company’s financial difficulties were exacerbated by its recent challenges.

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