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Sitrick And Company represents BurgerFi International as the Fort Lauderdale casual “better burger” restaurant chain declares Chapter 11.
The company has 144 restaurants, including Anthony’s Coal Fired Pizza & Wings outlets. It lost $6.5M on $43M first-quarter sales
Carl Bachmann, CEO of BurgerFi, attributed the difficult start of the year to a challenging consumer environment and "unfavorable weather in key markets.”
The company filed Chapter 11 because of “a drastic decline in post-pandemic consumer spending amidst sustained inflation and increasing food and labor costs,” said Jeremy Rosenthal, Chief Restructuring Officer.
BurgerFi expects all of its restaurants will remain open and continue normal operations during the restructuring proceedings.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
Burson Buchanan handles AAR Corp as the supplier of parts and services to the aviation market acquires a 65 percent stake in MRO Holdings.
The financial services industry thinks it needs more communications, when the real issue is credibility—and that requires entirely different solutions.
