A major Outback Steakhouse franchisee files for bankruptcy, citing increased operating costs. The bankruptcy centers on Cerca Trova Restaurant Group, which had been the chain’s once-largest franchisee. Multiple outlets report that the filing follows pressure from costs including food and wages.
In parallel, Bloomin’ Brands—Outback Steakhouse’s parent company—agrees to purchase the franchisee’s assets and planned restaurant locations in several western states. The proposed deal is described as covering 61 restaurants across five states, with Bloomberg noting the bankruptcy’s link to rising costs and California’s minimum wage law. Quartz adds that the agreed purchase price is subject to potentially higher bids and court approval.
Outlets emphasize different aspects: some lead with the franchisee’s bankruptcy filing, while others foreground Bloomin’ Brands’ acquisition plan and deal terms. Across coverage, the core facts remain consistent: the franchisee’s financial distress, the role of rising costs, and the parent-company bid for the restaurant assets.
