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HomeTown Buffet and Affiliated Chains File for Bankruptcy for the Third Time in 8 Years

HomeTown Buffet and Affiliated Chains File for Bankruptcy for the Third Time in 8 Years


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Latest filing is blamed on an undisclosed lawsuit stemming from when the chains came into new ownership

Bankruptcy will potentially affect over 300 US locations.

HomeTown Buffet and other affiliated buffet chains owned by Ovation (Old Country Buffet, Ryan's, Fire Mountain, and Tahoe Joe's) filed for Chapter 11 bankruptcy protection, its third in eight years. locations may be affected, reports CNBC.

Ovation blames an undisclosed pending lawsuit from the previous owner of the businesses, as well as “unusual” sharp drops in sales, according to Reuters. The lawsuit resulted in an $11.4 million judgement, and sales have fallen 22 percent short of projections by the previous owner. As a result of dropping sales, 74 restaurants have been closed, with an additional 92 to follow in the next 10 days.

The company filed for Chapter 11 bankruptcy in early 2008 to cut its debt by $700 million and cut down on its 626 locations. The second bankruptcy was filed in 2012 to further diminish the number of restaurants from 494.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


12 Restaurant Chains Disappearing in 2021

Luby's / Facebook

Foot traffic and sales are slowly returning to pre-pandemic levels at numerous restaurants around the country, but the recovery isn't taking place quickly enough to save all struggling businesses.

Restaurant chains have continued filing for bankruptcies and closing up shop at hundreds of locations this year, leaving their futures uncertain. The hardest hit seem to be brands that relied on urban customers as well as buffet concepts which have seen a major downturn during the pandemic. For others, the pandemic was the last straw adding to long-existing instability.

Here are the chains that may be close to vanishing this year. For more, check out 10 Beloved Restaurant Chains That Closed Hundreds of Locations in 2020.


Watch the video: Hometown Buffet Ole 2002 TV Ad Commercial


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