This year has been rife with bankruptcies in the restaurant world, with Red Lobster, Buca di Beppo, and Tijuana Flats among the major chains impacted by the trend.
And late last week, a struggling Mediterranean chain based in the Midwest became the latest to declare bankruptcy in 2024.
Roti—a Chicago-based fast-casual brand that serves a variety of bowls, salads, and pita wraps—announced on Aug. 23
that it had filed for Chapter 11 bankruptcy protection. In a statement, CEO Justin Seamonds attributed the decision to a variety of financial issues.
Our vision to create happier, healthier, and more flavorful lives comes to life by providing our guests with exceptional food experiences—even in the face of current headwinds.
After careful consideration, filing for bankruptcy protection was the best way to address our challenges—including financial performance, higher costs, mixed location performance
and tough market conditions—while staying open and focused on delivering Food For A Full Life to each and every guest," he said, referencing Roti's "Food For A Full Life" slogan.
Though Technomic data shows that Roti was one of the fastest-growing restaurant chains before the COVID-19 pandemic, its sales and size have been on the decline in recent years.
Its website currently lists 19 restaurants in operation, which is about half of what it had before the pandemic, Restaurant Business Magazine reported. Just last year
Roti shuttered four of its restaurants and also saw its systemwide sales drop by a notable 12%. The chain said it intends to use the Chapter 11 bankruptcy filing to seek