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Distress is on the menu for more restaurant borrowers

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News and Analysis

Distress is on the menu for more restaurant borrowers

Emily Fasold's avatar
Bill Weisbrod's avatar
Rachel Butt's avatar
  1. Emily Fasold
  2. +Bill Weisbrod
  3. + 1 more
5 min read

Last fall, we looked at how investor appetite for restaurant debt was ramping up as the commodity inflation that plagued the industry in 2022 finally started to cool off — but a recent string of restaurant bankruptcies suggests a bleaker outlook for the sector.

Seattle-based fast casual chain Mod Pizza is the latest example. Earlier this month, the CD&R-backed company (which specializes in artisanal build-your-own pizzas) announced that it had agreed to be acquired by Elite Restaurant Group in a deal that many saw as a way to avoid a potential bankruptcy filing.

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