Drive-thru sales keeping restaurants open
FOX Business’ Jeff Flock on the coronavirus pandemic’s impact on restaurant drive-thrus.
Sizzler, the steakhouse chain known for its grilled meats and giant salad bars, filed for bankruptcy Monday after the coronavirus pandemic shuttered its restaurants and strained its finances.
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“The filing is a direct result of the financial impact the COVID-19 pandemic has had on the casual dining sector, particularly long-term indoor dining closures and landlords’ refusal to provide necessary rent abatement,” Sizzler said in a statement, according to Restaurant Business News.
Sizzler says it has struggled to bounce back from virus-related lockdowns that forced all of its 14 company-operated restaurants to close at least twice.
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The chain said it has tried to shift to takeout, delivery and outdoor dining, but those alternatives don’t work well for its signature salad bar, which is responsible for more than 40 percent of its restaurants’ revenue.
“These unprecedented times and resulting economic damage to the American restaurant and hospitality industry have not spared” Sizzler despite its efforts to cut costs and maximize sales, company president Christopher Perkins said in a court filing.