Steakhouse chain Sizzler files for bankruptcy amid pandemic
(CNN) – Sizzler USA, one of America’s first casual restaurant chains, has filed for Chapter 11 bankruptcy protection as it struggles amid the coronavirus pandemic.
The filing covers Sizzler’s 14 company-owned restaurants, not its international locations or more than 90 franchised restaurants in the U.S.
Sizzler President Chris Perkins said in a statement: “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.”
Sizzler said it’s using the bankruptcy process to reduce debt and renegotiate its leases.
Sizzler was founded in 1958 with the goal of letting everyone enjoy a “great steak dinner at an affordable price.”
Once a pioneer in the industry, it has lost favor to newer rivals like Applebee’s and TGI Fridays.
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