BurgerFi, a burger chain in Glenview, IL, faces potential bankruptcy due to significant adverse developments and liquidity issues.

BurgerFi, a burger chain with a location in Glenview, IL, may be on the brink of bankruptcy, according to a recent filing with the US Securities and Exchange Commission (SEC). The company submitted a form mentioning "significant adverse developments with respect to the business and liquidity," and cited "substantial doubt about the company's ability to continue to operate." While BurgerFi has not officially declared bankruptcy, the report highlights potential financial issues faced by the company. BurgerFi has been seeking additional financing, attempting to sell its assets, or the entire company, but there is "no assurance" a solution will be found to meet its financial obligations. If adequate relief or liquidity is not acquired, the company may seek protection under applicable bankruptcy laws.

August 19, 2024
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