Some of us would be in tears if they hear that their favorite restaurant is in jeopardy of filing bankruptcy, but it’s a very real possibility for large chain restaurants that we’ve grown accustomed to. Some we might think are so expensive they would never bite the dust, but they made the list.
According to TheStreet.com, they use the Z rating for restaurants to discern the level of financial distress the company may be experiencing. Those that have already sunk and filed Chapter 11 bankruptcies are:
- Sbarro, which went bankrupt in April,
- Perkins and Marie Callender’s restaurant chains filed in June,
- Eva Longoria’s Las Vegas restaurant Beso filed for bankruptcy in January,
- and Michael Jordan’s The Steakhouse NYC, went under in November of last year.
The top five restaurants in order from lower risk to highest risk are:
5. Domino’s Pizza
4. DineEquity (IHOP, Applebee’s)
3. Morton’s Restaurant Group
Sad yet? It’s looking like America is getting ready to go on that highly anticipated diet we’ve been putting off. Read more here.