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The latest announcement is out from BurgerFi International ( (BFICQ) ).
BurgerFi International, Inc. has filed for Chapter 11 bankruptcy, selling assets of Anthony’s Coal Fired Pizza and BurgerFi to TREW Capital for $54 million in credit bids. This move satisfies obligations under their financing facilities while retaining certain assets for unsecured creditors. Amid these changes, CEO Carl Bachman departed to join the asset purchaser, and the company plans to modify its financial reporting during the bankruptcy proceedings, cautioning investors about the limitations of current financial statements.
See more insights into BFICQ stock on TipRanks’ Stock Analysis page.