Back Yard Burgers of Nashville, Tenn., filed Chapter 11 bankruptcy a day after closing eight underperforming stores in Arkansas.
Times are tough in the burger business. Just this week:
- The Back Yard Burgers chain closed all eight of its corporate-owned fast-food restaurants in Arkansas, leaving only six franchise restaurants in the state. Folks in central Arkansas will have to drive to Bryant for their Back Yard Burger fix.
- A day later, the chain, based in Nashville, Tenn., filed Chapter 11 bankruptcy. Bloomberg notes that three Back Yard franchise entities -- BYB Properties, Nashville BYB and Little Rock Back Yard Burgers -- also sought protection.
- Meanwhile, Cheeburger Cheeburger, which opened to raves and crowds in 2008 at Pleasant Ridge Town Center, closed its doors.
If that's not enough, even McDonald's is having tough times, reporting third-quarter profit down 4 percent:
CEO Don Thompson said Friday that those trends are likely to continue to pressure its revenue and net income results in the near term. He said revenue in stores open at least 13 months, a key restaurant metric, is trending negative so far in October.
- Student Entrepreneur's Doughnut Holes Available Soon at Spokes
- Video: Turner Grain Paid Farmer for Wheat But Not Corn
- This Week in Tyson: EPA Investigates; Hillshire Deal Delayed Again
- King Coal Investigation Heating Up; FBI Executes New Search Warrant 1 day ago
- In Lee County, Judge Hears Details of Turner Grain, Related Companies 4 hours ago
- Student Entrepreneur's Donut Holes Available Soon at Spokes 11 hours ago
- Mark Pryor Defends Campaign Ad Invoking Ebola Outbreak 1 day ago
- Lonoke County Farmers Sue Turner Grain 4 hours ago