Bankruptcy filings among restaurants have seen a significant increase this year, reflecting a wider trend of corporate insolvencies across various industries. In 2024, at least ten restaurant brands, excluding multi-unit franchise operations, have entered bankruptcy proceedings. Notably, three prominent dining establishments filed for Chapter 11 in August alone. This surge in bankruptcies is attributed to a decline in consumer spending, escalating labor expenses, and the cessation of government support that was available during the pandemic. Several additional restaurant chains may seek bankruptcy protection before the year concludes. BurgerFi, which also operates Anthony's Coal Fired Pizza & Wings, expressed in a regulatory document in mid-August that there is "substantial doubt" regarding its operational viability. Other chains, like Mod Pizza, narrowly escaped bankruptcy through last-minute acquisitions. The trend is not limited to the restaurant sector; many businesses are pursuing bankruptcy protection as high interest rates continue to impact operations. As of August 20, Chapter 11 filings have risen by 49% this year, according to BankruptcyWatch. Companies such as mall retailer Express, nursing home chain LaVie Care Centers, and Joann Fabrics and Crafts have also filed for bankruptcy this year. Here are ten notable restaurant chains that have sought bankruptcy protection in 2024: The Mediterranean fast-casual chain Roti filed for Chapter 11 on August 23, stating it is collaborating with landlords and suppliers to maintain its 22 locations while searching for new investors or buyers. The company faced challenges during the pandemic, particularly as many of its outlets were situated in downtown business areas. Although new investors initially helped stabilize the business, a recent decline in consumer spending led to its financial troubles. Roti had secured $58 million in funding by June, according to Pitchbook. Buca di Beppo, an Italian American restaurant chain, declared bankruptcy on August 5. The chain is keeping 44 of its locations operational while undergoing restructuring and plans to open an additional restaurant. The company cited rising costs and labor issues as contributing factors to its financial struggles. Founded in 1993, Buca di Beppo was sold to Planet Hollywood in 2008 following an accounting scandal involving top executives. World of Beer, a tavern chain, filed for bankruptcy protection on August 2, attributing its difficulties to high interest rates, inflation, and a sluggish return to pre-pandemic dining habits. The company aims to restructure and terminate leases at underperforming locations through the bankruptcy process. Established in 2007 during the craft beer boom, World of Beer has seen a decline in craft beer sales as consumer preferences shift. Rubio's Restaurants filed for Chapter 11 bankruptcy protection in June, known for its fish tacos and operating 86 locations across California, Nevada, and Arizona at the time. The company cited rising food and utility costs, reduced lunchtime traffic due to hybrid work arrangements, and minimum wage increases in California as significant pressures on its business. Following California's decision to raise the minimum wage for fast-food workers to $20 an hour, Rubio's closed 48 underperforming locations shortly before filing for bankruptcy. In August, the chain agreed to a sale to an affiliate of TREW Capital, one of its lenders. Rubio's had previously filed for Chapter 11 in 2020. In June, a Cleveland-based chain known for its grilled cheese sandwiches and craft beer offerings also sought bankruptcy protection. Founded in 2006, the company had seen its number of locations dwindle from 14 at its peak to just four by the time of its bankruptcy filing. Kuma Holdings, the parent company of Kuma's Corner, filed for bankruptcy protection in June. This Midwestern burger chain, which opened its first location in 2005, distinguished itself with a metal and punk-themed menu. Red Lobster, a seafood giant, filed for bankruptcy protection in May, citing a challenging economic environment, an oversized and underperforming restaurant footprint, misguided strategic initiatives, and increased competition. The company pointed to a failed "endless shrimp" promotion in 2023 as a contributing factor to its financial woes, along with a lease-back agreement made by a previous owner that resulted in prohibitively expensive leases amid declining sales. Recently, the investment group acquiring Red Lobster appointed former P.F. Chang's CEO Damola Adamolekun as the new leader, contingent on a successful exit from Chapter 11. In April, Tijuana Flats announced new ownership, a Chapter 11 bankruptcy filing, and the closure of 11 restaurants in a single announcement. AUA Private Equity Partners sold the fast-casual Tex-Mex chain to Flatheads LLC as part of its restructuring efforts. Sticky's Finger Joint, a chicken-tender chain, also declared bankruptcy in April. The company faced rising commodity costs, lingering effects from the pandemic, and legal expenses from a trademark dispute with rival Sticky Fingers, prompting a restructuring. Founded in 2012, Sticky's reported annual sales of $22 million in 2023, according to court documents. The Portland, Oregon-based ramen chain filed for Chapter 11 bankruptcy protection in February. By late April, it abruptly closed all four of its locations, marking the end of its operations more than a decade after its establishment.