All fast food chains have suffered in the past year as inflation-weary Americans have eaten a lot less.<\/p>\n
Burger chains like McDonald’s,\u00a0Burger King\u00a0and Wendy’s have all had problems.\u00a0<\/span><\/p>\n But sandwich chains have been worse hit. For example,\u00a0Subway has seen\u00a0sales down 9 per cent\u00a0<\/strong>– amid complaints of huge price hikes and tired looking shops.<\/span><\/p>\n And now one of Subway’s regional rivals – which never recovered after sales dipping during the pandemic – is in trouble.<\/p>\n Arizona’s iconic frozen drink and sub chain Eegee’s has filed for Chapter 11 bankruptcy, making it the latest casualty in a brutal year for fast-food restaurants.<\/span><\/p>\n The announcement came with the closure of five locations across Tucson and Phoenix, leaving die-hard fans heartbroken.<\/p>\n The December 6 filing in Phoenix federal court gives the embattled chain – owned by private equity firm 39 North Capital – a chance to reorganize its finances.<\/p>\n Eegee\u2019s joins a grim list of 2024 fast-food bankruptcies, including Red Lobster, BurgerFi, and Buca di Beppa.<\/p>\n Interim CEO Chris Westcott, who only took over two weeks ago, said: ‘The brand has been struggling since the pandemic. We just haven’t bounced back to pre-pandemic levels.’<\/p>\n According to court documents, Eegee’s owes about $2.8 million to suppliers, mostly for food.<\/p>\n Fans of the iconic frozen fruit drinks and sub sandwiches were left reeling as they saw ‘Closed’ signs at locations like West Grant Road and East Speedway.<\/p>\n A note in one drive-thru thanked customers for their support, directing them to nearby locations. Bosses promised customers that no more closures are planned for now.<\/p>\n The company, which began in 1971 as a frozen lemonade truck, has seen rapid changes since being bought in 2018.<\/p>\n An ambitious expansion into Phoenix saw Eegee’s balloon to 35 locations. But a trio of Tucson stores shut down last summer, raising concerns about the chain’s future.<\/p>\n Westcott said the bankruptcy was ‘a step towards stabilizing the brand.’<\/p>\n He promised ‘business as usual’ at remaining locations, with no menu changes or disruptions to loyalty programs.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" All fast food chains have suffered in the past year as inflation-weary Americans have eaten a lot less. Burger chains like McDonald’s,\u00a0Burger King\u00a0and Wendy’s have all had problems.\u00a0 But sandwich chains have been worse hit. For example,\u00a0Subway has seen\u00a0sales down 9 per cent\u00a0– amid complaints of huge price hikes and tired looking shops. And now […]<\/p>\n","protected":false},"author":1,"featured_media":4708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-4707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\n