BurgerFi, which once aimed to challenge Shake Shack, files for Chapter 11 bankruptcy
A single cheeseburger at BurgerFi. Credit: Daniel Brennan
Burger chain BurgerFi International Inc., which once aimed at challenging industry giant Shake Shack, has filed for Chapter 11 bankruptcy protection on Wednesday in Delaware.
The restaurant chain, which has one Long Island location, in Commack, and also owns pizza franchise Anthony’s Coal Fired Pizza, listed $50 million to $100 million in assets and $100 million to $500 million in debt, according to court papers.
The food brand hired Jeremy Rosenthal at Force Ten Partners LLC to serve as chief restructuring officer in August, according a company filing. Earlier this year, the company said it signed a forbearance agreement with lender TREW Capital Management.
Established in Florida by Plaza Auto Mall founder John Rosatti, BurgerFi has grown to own 162 stores under the two brands, its first quarter 2024 earnings report showed. Months before the bankruptcy, the brand had opened a flagship store in Manhattan.
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