Sizzler
Filed Chapter 11 in June 1996
Fallout: The steak and seafood chain closed 130 of its 215 company-owned stores after filing for Chapter 11 reorganization in 1996. After repaying creditors and attempting to revamp the brand, Sizzler went private in a 2005 acquisition by Australia-based Pacific Equity Partners. The group put the chain up for sale earlier this year. Sizzler now operates 183 U.S. franchises and 36 company-owned locations.
