Adapt or Risk Bankruptcy

Out West Restaurant Group, an Outback Steakhouse franchisee operating 61 locations across five states, filed for Chapter 11 bankruptcy protection while seeking relief from $449 million in debt. The company cited declining customer traffic and rising labor, food and other costs, including California’s high labor expenses and inflation. Parent company Bloomin’ Brands has agreed to buy the 61 restaurants for $26.3 million and provide up to $5.5 million in interest-free financing.

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