{"id":5950,"date":"2020-01-22T21:17:40","date_gmt":"2020-01-23T02:17:40","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=5950"},"modified":"2020-01-22T21:17:55","modified_gmt":"2020-01-23T02:17:55","slug":"burger-chain-krystal-files-for-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2020\/01\/22\/burger-chain-krystal-files-for-bankruptcy-protection\/","title":{"rendered":"Burger Chain Krystal Files for Bankruptcy Protection"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Krystal, the Georgia-based burger chain, has filed for bankruptcy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"538\" src=\"https:\/\/i0.wp.com\/lakelandgazette.info\/news\/wp-content\/uploads\/2020\/01\/Krystal.jpg?resize=640%2C538&#038;ssl=1\" alt=\"\" class=\"wp-image-5951\" srcset=\"https:\/\/i0.wp.com\/lakelandgazette.info\/news\/wp-content\/uploads\/2020\/01\/Krystal.jpg?w=640&amp;ssl=1 640w, https:\/\/i0.wp.com\/lakelandgazette.info\/news\/wp-content\/uploads\/2020\/01\/Krystal.jpg?resize=300%2C252&amp;ssl=1 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Krystal, the well-known burger chain, files for bankruptcy<\/strong><\/li><li><strong>The company said it had between $50 million and $100 million of debt<\/strong><\/li><li><strong>Krystal plans to keep restaurants open during the bankruptcy process<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The company filed for Chapter 11 bankruptcy protection on Sunday, citing debts between $50 million $100 million, according to court documents.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The actions we are taking today will enable Krystal to establish a stronger business for the future,&#8221; Krystal president Tim Ward said in a news release. &#8220;We look forward to emerging from this process as quickly and efficiently as possible with the support of our valued customers, team members, franchisees and suppliers.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Krystal said its restaurants will remain open during the process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company blamed shifting consumer tastes and increased competition as reasons for its financial woes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The proliferation of fast-casual restaurants, as well as online delivery platforms, has created new competition for traditional quick-service chains,&#8221; the filing said. &#8220;Moreover, quick-service restaurants have faced increased difficulty finding and retaining qualified employees in the current labor market.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Krystal is one of the oldest fast-food chains in the U.S. have started in 1932 in Chattanooga, Tennessee. There are more than 300 Krystal restaurants in 10 states, including Florida, Kentucky, North Carolina, and South Carolina.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lakeland has a Krystal on Memorial Blvd.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Krystal, the Georgia-based burger chain, has filed for bankruptcy. Krystal, the well-known burger chain, files for bankruptcy The company said it had between $50 million and $100 million of debt&hellip; <\/p>\n","protected":false},"author":1,"featured_media":5951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"12","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[12,14],"tags":[],"class_list":["post-5950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local","category-news"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/5950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=5950"}],"version-history":[{"count":0,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/5950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/5951"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=5950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=5950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=5950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}