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When you think about the bankruptcy cycle, chain restaurant companies are not the first thing that comes to mind. Most restaurant companies don't need working capital to survive, as a result this is the primary differentiator between restaurants and other consumer companies.




  • Three themes to take away from companies that have gone bankrupt:

    (1) Family dining and Casual Dining make up the bulk of companies that have gone bankrupt.

    (2) Inefficient consumer proposition

    (3) Executive suite revolving door