If you enjoy dining out, especially at those special occasion spots, you might be surprised to learn that even some high-end restaurants are struggling, with several prominent names recently filing for bankruptcy.
The restaurant industry is facing a wave of bankruptcies, particularly among upscale and multi-location chains.
High-profile filings include Red Lobster, which sought Chapter 11 protection in May 2024, and Outback Steakhouse's parent company, Bloomin' Brands, which closed 41 underperforming locations.