Source: Krystal Burgers
The nation’s second oldest fast food chain has filed for bankruptcy.
Southern fast food chain Krystal, which is known for its square-shaped mini burgers, filed for Chapter 11 bankruptcy protection on Monday with court documents revealing the company has between 50 and 100 million dollars in debt.
Krystal is filing for bankruptcy?? This is wild. They have my favorite burger sliders.
— Yuriy Andriyashchuk🇺🇦🇷🇺 (@YuriyATL404) January 22, 2020
According to AOL, the company cited “shifting consumer tastes and preferences, growth in labor and commodity costs, increased competition, and unfavorable lease terms” as some of the biggest factors in the decision.
Krystal operates out of ten southern states – Florida, Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.