Source: New York Post
A major California-based Outback Steakhouse franchise operator has gone bust, blaming the Golden State’s soaring labor costs, sky-high food prices and dwindling customers for pushing its restaurant empire to the brink. San Diego-based Cerca Trova Restaurant Group, also known as Out West Restaurant Group, filed for Chapter 11 bankruptcy protection Monday in Delaware, seeking relief from a staggering $449 million debt burden, according to the Los Angeles Times. The struggling company operates 61 Outback Steakhouse restaurants across California, Arizona, Colorado, Nevada and New Mexico, with the majority of its locations concentrated in the Golden State.
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