LOS ANGELES (CBSLA) — Sizzler, the Orange County-based restaurant chain known for its moderately priced steaks and expansive salad bar, filed for Chapter 11 bankruptcy Monday. The Mission Viejo-based chain, which operates 107 locations, blamed falling sales on the COVID-19 pandemic — reporting between $1 million and $10 million in liabilities and the same amount on assets, according to trade publication Restaurant Business . “The filing is a direct result of the financial impact the COVID-19 pandemic has had on the casual dining sector, particularly long-term indoor dining closures and landlords’ refusal to provide necessary rent abatement,” Chris Perkins, the president and chief services officer of Sizzler USA, said in a prepared statement. The chain plans to keep all of its locations open for business throughout the process and franchisees would not be affected, according to the company. Sizzler said it anticipates emerging from the the process within 120 days. “Today’s filing represents a new chapter for Sizzler, and it’s an option we’ve undertaken based on the underlying strength of our 62-year-old legacy brand,” Perkins said. “Many restaurant brands across the country have suffered because of COVID-19 and Sizzler USA is no exception.” According to the company, the filing […]
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