Posted on 01/23/2020 12:11:07 PM PST by Red Badger
BIRMINGHAM, Ala. Krystal Co., the Georgia-based restaurant chain known for tiny hamburgers and late-night service across the Southeast, has filed for bankruptcy, but said Tuesday that all of its locations would remain open.
Federal court documents showed Krystal sought Chapter 11 bankruptcy protection in Atlanta on Sunday. The company said it owed between $50 million and $100 million to food suppliers, equipment companies and others.
Krystal has about 300 restaurants in 10 states, 182 of which employ 4,890 people and are operated by the company, restructuring officer Jonathan M. Tibus said in a court filing. Another 116 are run by franchisees, he said.
The company previously closed more than 40 restaurants, including 13 that shut down in December, over the past year, according to court documents. Shifting consumer tastes, growing costs, tight labor markets and the growth of online food ordering all contributed to the company’s financial problems, Tibus said.
“The actions we are taking are intended to enable Krystal to establish a stronger business for the future and to achieve a restructuring in a fast and efficient manner,” the company said in a statement Tuesday.
(Excerpt) Read more at washingtontimes.com ...
In the DC area there is, or used to be, Little Tavern, “LT.”
OK...I hadn’t heard of that one...
The Devenport family out of Chattanooga owned it I think and they sold out to this current entity. Since the sell the food quality and service has plummeted and prices have risen. I rarely eat there anymore because the food makes me ill except for their chic sandwiches.
The Krystal in my small town has recently been put on the commercial real estate market, but is still in operation. The lot it sits on along with the Taco bell lot next to it sold for $2 million dollars in the early 1990’s. My Dad in the mid 1980’s was offered this entire lot for $80K and my Mom talked him out of it, duh... Back in the 70’s my uncle offered him 3 acres of beach front in Fort Myers for $3K, again my Mom talked him out of it, duh...
5 cents - Way before my time. White Castle hasn’t been a nickel since the 1930’s. My father, who is 90, remembers them being a nickel. They slowly increased by pennies thru the 1930’s & the 1940’s until they hit a dime & stayed at dime for a few yrs. In 1950, they went to 12 cents & stayed at 12 cents into the 1960’s.
Krystals taste better.
Krystals were a nickel in the 60s, but it was the South, so they were cheaper.............
I worked at the Krystal Drive In on Main Street!................
Yes basically though they put mustard on their burgers by default.
Yeah, they’ve been sold in supermarkets (frozen) for a quite a few yrs. I don’t recall ever seeing a WC cheeseburger when I grew up. Not sure they sold them.
There was another imitator brand named White Tower. Don’t know if they still exist. Tried it once.... Not the same as White Castle.
WOW both have been around forever ,LOL
Pretty much but they default burger has mustard on it..
I’ve had Both, prefer White Castle. But neither exist near me... so either is a “treat” when I travel someplace that has them..
Can at least have a WC hit with the frozen ones at the grocer store. Not as good as fresh off the grill but will do in a pinch.
Walt Disney said his wife always tried to talk him out of ventures and if he’d listened to her he would have never made Snow White or built Disneyland.
Yeah, we paid NY prices.
I’m still burning off the calories from all the Krystal burgers I ate at the Atlanta Hwy location in Montgomery, Alabama in 1977.
I loved those things.
Krystal and White Castle ‘burgers’ always sucked.
Yes, they are/were very similar to White Castle. I honestly couldn’t see much difference.
I grew up going to Krystal on Terry Rd on Sunday nights after church. It was connected to a KFC which was on the backside if I remember correctly. My daddy’s store was across the street at the time. I still love Krystals, but there’s not one where we are now. When we are on roadtrips, I make my husband take me to Krystal to get my fix. I think they are the reason I order my hamburgers with mustard and pickle only. (I make exceptions occasionally.)
In 1958 I was a two striper in the Air Force and worked part time at the Burger Chef in Sioux City, Iowa.
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