Second-quarter sales in 2024 dropped by 4%, partly due to the closure of underperforming corporate-owned locations. In August, BurgerFi received an emergency advance of $5.2 million from its lenders, TREW and CP7 Warming Bag LP.
Looking Forward
Founded in Ft. Lauderdale, Florida, in 2011, BurgerFi has grown to over 100 locations across the U.S. The 2021 acquisition of Anthony’s Coal Fired Pizza & Wings added about 60 more locations in eight states to its portfolio. With the bankruptcy filing, the company is looking to restructure its financial obligations and stabilize both brands for future growth.
