BurgerFi and Anthony’s Coal Fired Pizza closed restaurants: Full list and map of shuttered locations

07/20/2024, 2:48 PM
fastcompany.com

Fans of BurgerFi burgers and Anthony’s Coal Fired Pizza may have discovered recently that their favorite meals are a bit more difficult to come by.

That’s because BurgerFi International, the parent company of both chains, has closed nearly 20 underperforming locations in recent months, mostly located in Florida, New England, and the Mid-Atlantic region, the company disclosed in a court filing this week.

The locations were shuttered in the lead-up to BurgerFi’s Chapter 11 bankruptcy, which was announced earlier this month. In a year littered with chain-restaurant bankruptcies, the company cited familiar reasons for the move, including rising food and labor costs and inflationary pressures that have made diners more hesitant about eating out.

BurgerFi had alluded to the restaurant closures earlier this year, but in a court filing this week, it listed each location individually on a schedule of leases that it plans to reject as part of the bankruptcy process. In the filing, BurgerFi said it had determined that the restaurants were “suboptimal performers in terms of revenue and profits.” All personal property left behind at the locations is now considered abandoned.

The list of 19 locations includes 10 BurgerFi restaurants and 9 Anthony’s. They were located in Florida, Massachusetts, Tennessee, Pennsylvania, New Jersey, Rhode Island, and Maryland.

BurgerFi stock delisting on the horizon

Fort Lauderdale-based BurgerFi was founded in 2011 and is known for its fast-casual "better burger" dining concept. The restaurant chain went public during the SPAC frenzy of 2020, when hundreds of startups of all stripes merged with special purpose acquisition companies (SPAC).

While that method was seen as a fast track to public markets, it has typically not paid off in the long run for investors. BurgerFi stock, which never performed especially well on the Nasdaq, has been trading under 25 cents a share in the weeks since the bankruptcy announcement.

The company disclosed in a filing with the Securities and Exchange Commission (SEC) that it expects to be delisted from the Nasdaq, with trading of its common stock to be suspended by the opening bell on Monday, September 23.

There is some good news in all this: Despite BurgerFi's litany of financial troubles, the company has said that all 144 BurgerFi and Anthony's locations will continue to operate normally during the bankruptcy process, so the closures that were already announced may actually be the worst of it.

You can find the full list below or in the embedded map above.

Florida