BurgerFi International, the fast-casual restaurant operator behind both BurgerFi and Anthony’s Coal Fired Pizza, has filed for Chapter 11 bankruptcy protection, citing debt estimated between $100 million and $500 million. The move comes after the Fort Lauderdale-based company indicated in a filing with the U.S. Securities and Exchange Commission that reorganization might be necessary for the company’s survival.
On September 11, 2024, BurgerFi’s bankruptcy petition was filed with the U.S. Bankruptcy Court for the District of Delaware by Thomas Joseph Francella Jr., a partner at Raines Feldman Littrell LLP. The case is being overseen by Judge Craig T. Goldblatt.
Details of the Bankruptcy Filing
According to the 23-page petition signed by Jeremy Rosenthal, BurgerFi’s Chief Restructuring Officer, the company’s assets are valued between $50 million and $100 million. The filing lists 176 affiliates connected to the company and 114 equity security holders, indicating a complex web of relationships within the company’s ownership structure.