23 Hrs
Source:
Los Angeles Times
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Source: Los Angeles Times
23 HrsLos Angeles Times
Source: Los Angeles Times
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San Diego-based Cerca Trova Restaurant Group, which operates 61 Outback Steakhouse locations, mostly in California, filed for Chapter 11 bankruptcy on Monday, citing rising food and labor costs and declining customer traffic. Its debt has grown from $269 million in late 2020 to $449 million this year. The franchisee proposed selling its assets to Outback owner Bloomin’ Brands for $26.3 million, subject to higher offers during the bankruptcy process.
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