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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
