A pioneer in the fast-casual steakhouse segment, Sizzler Steakhouse filed for Chapter 11 bankruptcy protection yesterday due to losses incurred because of the coronavirus pandemic, CNN reports.
Once a national chain with 500 locations across the US, Sizzler’s sizzle faded in the 1990s when it constricted to 104 restaurants, primarily on the West Coast. The bankruptcy covers only 14 company-owned locations.
“Our current financial state is a direct consequence of the pandemic’s economic impact due to long-term indoor dining closures and landlords’ refusal to provide necessary rent abatements,” said Sizzler President Chris Perkins in a statement. The company aims to exit bankruptcy in about 120 days and company-owned locations will continue to operate.