BurgerFi, the fast-casual burger chain and owner of Anthony’s Coal Fired Pizza, is running out of cash – and options. The company said it may need to file for bankruptcy.
The company said it had just $4.4 million on hand as of August 14. It also expects to report a loss of $18.4 million for the quarter ending July 1. In the same quarter in 2023, the chain reported a loss of only $6 million.
BurgerFi’s dire financial situation underscores the difficulty some fast casual chains have had in recent months, as diners grow fed up with high prices and choose to eat at home or seek better value when they dine out.
