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Southern burger chain Krystal files for bankruptcy
www.washingtontimes.com ^ | 01/23/2020 | staff

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 ...


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KEYWORDS: alabama; food; krystal; localnews
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To: Cecily

I havent seen one in a long time, but I remember them as well. I think they still have some at truck stops in some places.


81 posted on 01/23/2020 1:47:32 PM PST by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: nuconvert

In my hometown, there were a couple of Prince Castles. Nothing like a WC. Big juicy burgers and fries. They used a square ice cream scoop to serve ice cream cones. Don’t know what ever happened to them.


82 posted on 01/23/2020 2:02:48 PM PST by Flaming Conservative ((Pray without ceasing))
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To: Red Badger
Southern burger chain Krystal files for bankruptcy

As long as there are White Castles and Cozy Inn in Salina, Kansas I can survive.

83 posted on 01/23/2020 2:03:04 PM PST by MosesKnows
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To: AFreeBird

I’m not a cheeseburger fan, so I guess I never paid attention if they were sold there or not.
Besides, they would have cost more. ;~)


84 posted on 01/23/2020 2:08:19 PM PST by nuconvert ( Warning: Accused of being a radical militarist. Approach with caution.)
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To: Flaming Conservative

Sounds old fashioned & good. : )


85 posted on 01/23/2020 2:09:31 PM PST by nuconvert ( Warning: Accused of being a radical militarist. Approach with caution.)
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To: nuconvert

It was!


86 posted on 01/23/2020 2:11:30 PM PST by Flaming Conservative ((Pray without ceasing))
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To: Red Badger

The inventor of the first “Happy Meal”. Used to call them “Fun Meals”. Man, I loved that place; best shakes ever. That one and Scotty’s (right across the street, strangely enough) where my too favorite places.

Loved Krystal; sad to hear they’re going as I grew up on the those things.


87 posted on 01/23/2020 2:13:45 PM PST by Retrofitted
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To: Conserv

Montgomery?


88 posted on 01/23/2020 2:21:16 PM PST by Alas Babylon! (The prisons do not fill themselves. Get moving, Barr!)
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To: Red Badger

Court filings indicate that in reorganization they plan to change the business plan from the Krystal method, to simply Crystal Meth. There’s already a large distribution network in place that doesn’t require the cost of brick and mortar stores. Market research shows customers tend to be very eager to provide repeat business.


89 posted on 01/23/2020 2:23:17 PM PST by Made In The USA (Next thing you know, 'ol Jed's a millionaire)
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To: Retrofitted

Chapter 11 bankruptcy is reorganization, so not all stores will close......................


90 posted on 01/23/2020 2:29:30 PM PST by Red Badger (Against stupidity the gods themselves contend in vain.......... ..)
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To: Magnum44

Burger Chef!!
Best burgers ever!
Founded 1954
Closed 1996
Gone but not forgotten.


91 posted on 01/23/2020 2:43:08 PM PST by oldvirginian (I know not what course others may take but as for me Give me Liberty or give me death)
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To: Red Badger
My lady friend is the General Manager of the one in Palaka, FL. They are closed for a month for remodeling. With this announcement, I hope it reopens.

It's been a bitch to turn the store around from a loser to a profit maker since she was hired last spring. Not much support from upper management she claims.

92 posted on 01/23/2020 2:56:55 PM PST by HotHunt (Been there. Done that.)
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To: traderrob6

No. White Castle sliders have holes in the patties. Krystals are square with no holes.


93 posted on 01/23/2020 3:01:56 PM PST by Hillarys Gate Cult
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To: Trailerpark Badass
"In the DC area there is, or used to be, Little Tavern, “LT.”"

We had Little Taverns in Baltimore, but they usually were in less than savory neighborhoods.

Similar to Church's Fried Chicken.

Eat your food, and get the hell out of the area pronto before you get shot.

94 posted on 01/23/2020 3:13:03 PM PST by boop (Diarrhea: "So hot right now!")
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To: HotHunt

We have a nice new Checkers;

https://4.bp.blogspot.com/-Cd560UCjtr4/TxB7PWig9qI/AAAAAAAAIIY/SLW6QuiGTYw/s1600/Checkers-Burgers.jpg

Was completed last summer and they had now hiring sign up. Story is that it went bankrupt. So there’s a clean new burger place that never had a customer and may never. Drive past it frequently and it looks odd, like something from a movie.


95 posted on 01/23/2020 3:20:41 PM PST by Hillarys Gate Cult
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To: Red Badger

When my S.O. was at Ft Benning, the Krystal was one of our most affordable treats!


96 posted on 01/23/2020 3:30:55 PM PST by Albion Wilde (It is fatal to enter any war without the will to win it. --Douglas MacArthur)
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To: Magnum44

Not so much as to criticize your post, but as to point out that it is not something long past and only a memory.


97 posted on 01/23/2020 3:33:05 PM PST by higgmeister ( In the Shadow of The Big Chicken)
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To: Dacula

Closed the ones in DFW 5 or 10 years ago.


98 posted on 01/23/2020 3:42:22 PM PST by PAR35
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To: Magnum44

“Go to the big chicken and turn left. The national cemetery will be on your right in about a mile and a half. After you pass the big Baptist church on the left.

The Krystal I went to was just west of the Square, after you crossed the tracks.


99 posted on 01/23/2020 3:47:35 PM PST by PAR35
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To: Red Badger

We had a Sandy’s. It was a Scottish themed burger restaurant in the Midwest in the 60s. I believe Hardees bought Sandy’s. Hardees was really good at first. I loved their pork tenderloin sandwiches. We had a Steak n shake too. I hear they’ve fallen on hard times too.


100 posted on 01/23/2020 3:50:48 PM PST by virgil (The evil that men do lives after them)
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