Florida-Based Burger Chain BURGERFI Files for Chapter 11 Bankruptcy

A Florida-based burger chain that once enjoyed rapid growth is fighting for survival. BurgerFi, which also owns Anthony’s Coal Fired Pizza, filed for Chapter 11 protection at a Delaware court on Wednesday. The company has up to $500 million in debts. It operates 162 locations across the two brands, including a recently opened flagship BurgerFi in New York. The majority of restaurants are in Florida, Maryland, North Carolina, New York and Indiana. All of these locations are currently at risk, according to a recent report.

BurgerFi closed eight restaurants in the first three months of the year, and closed 14 in 2023, which means there are just 102 locations remaining in the US. There are 60 Anthony’s pizza restaurants.

BurgerFi was established in 2011 in Lauderdale-by-the-Sea, Florida, by John Rosatti, a successful entrepreneur and restaurateur. The brand was created to provide a high-quality alternative to traditional fast food, with a focus on using premium ingredients and promoting sustainability. BurgerFi set itself apart by using all-natural, hormone-free Angus beef and offering a diverse menu that includes vegetarian options like the Beyond Burger and fresh-cut fries.

The company quickly gained popularity due to its commitment to sustainability, utilizing energy-efficient equipment and eco-friendly materials in its restaurant designs. BurgerFi’s distinctive style includes wooden and metal furnishings made from recycled materials, showcasing the brand’s emphasis on environmental responsibility.

The chain expanded rapidly across the U.S., with both corporate-owned and franchised locations. By 2015, BurgerFi had opened dozens of restaurants, capitalizing on the growing fast-casual dining trend. It continued to grow, focusing on digital innovation and delivery services to meet evolving consumer demands.

In 2020, BurgerFi merged with OPES Acquisition Corp, becoming a publicly-traded company on the NASDAQ under the ticker “BFI.” Despite challenges from the COVID-19 pandemic, the company has continued to pursue expansion and strengthen its brand in an increasingly competitive market.