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Outback Steakhouse Franchisee Files Bankruptcy After Costs Swell
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Outback Steakhouse Franchisee Files Bankruptcy After Costs Swell Cerca Trova Restaurant Group, once the biggest franchisee of Outback Steakhouse restaurants, filed bankruptcy Monday, blaming factors including rising food costs and California’s minimum wage law for its demise. The San Diego-based company operates 61 Outback locations, down from a high of 99 restaurants it ran in 2018, according to court papers filed in US Bankruptcy Court in Wilmington, Delaware. It has struggled financially...
Outback Steakhouse Franchisee Files Bankruptcy After Costs Swell
Cerca Trova Restaurant Group, once the biggest franchisee of Outback Steakhouse restaurants, filed bankruptcy Monday, blaming factors including rising food costs and California’s minimum wage law for its demise.
The San Diego-based company operates 61 Outback locations, down from a high of 99 restaurants it ran in 2018, according to court papers filed in US Bankruptcy Court in Wilmington, Delaware. It has struggled financially since the Covid-19 pandemic and its debt has jumped to about $449 million from $269 million in late 2020.