I’ve been seeing a lot of talk about bankruptcies due to COVID-19 so I thought I would start a list. This will be updated as I hear about more.
The XFL won’t be returning as the league has filed for bankruptcy. Last week, the XFL announced that all league operations have been suspended and employees have been laid off following the coronavirus pandemic. The first season of the rebooted XFL had to be canceled in the middle of the season due to the coronavirus a few weeks ago.
With all of its 630 movie theaters closed, 25,000 employees furloughed, and no incoming revenue, AMC Entertainment looks to be inching closer to filing for bankruptcy.
The New York Post reports the theater chain is talking with a law firm to pursue a Chapter 11 filing.
Brio Tuscan Grille and Bravo
FirstFood Global Restaurants, parent of BRAVO Cucina Italiana and BRIO Tuscan Grille, filed for bankruptcy April 11 due to the negative effects of the COVID-19 pandemic.
The announcement comes after the company closed 71 of its 92 U.S. locations in March, and furloughed 6,000 employees, with open stores using a limited carryout and delivery model. FirstFood is operating with 120 hourly and salaried employees.