)Sizzler USA, one of the country's first casual restaurant chains, has filed for bankruptcy.
The 62-year-old company said it filed for Chapter 11 because of Covid-19, which forced it to temporarily close its restaurants' dining rooms. Sizzler USA also had problems paying rent.The filing is only for Sizzler's 14 company-owned restaurants -- not its international locations or more than 90 franchised US restaurants. Sizzler explained in a press release that it's using the bankruptcy process to reduce debt and renegotiate its leases."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," said Sizzler President Chris Perkins in a statement. The company aims to exit bankruptcy in about 120 days and company-owned locations will continue to operate.
