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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.
ZM Communications represents Cerebras Systems as the Sunnyvale, CA-based company prepares a much-anticipated initial public offering.
H/Advisors Abernathy handles TPG as the alternative asset management firm acquires AT&T’s 70 percent stake in DIRECTV for $7.6B.
Lifeway Foods is using Longacre Square Partners as it receives a non-solicited and non-binding takeover offer from the US arm of France’s Danone, the world’s No. 1 marketer of fresh dairy products.
Edelman Smithfield is working Tupperware Brands' Chapter 11 as the 75-year-old direct sales-marketing to homes company puts itself on the auction block.
ICR Westwicke is handling the $975M IPO of Atlanta-based Guardian Pharmacy Services.
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