[Disclaimer: Since I moved to Arkansas in 1996 I have failed to keep my childhood promise, (though I must gently point out that if there were a Krystal restaurant within 100 miles of my residence this probably wouldn't have happened). to forever sustain this restaurant chain, to the best of my ability, and to help it maintain its profitability until the day of my death. I am sorry for failing in this particular endeavor . . . ]
News Alert: Krystal, a popular fast food chain in the southeastern United States, has filed for bankruptcy.
News Alert: Krystal, a popular fast food chain in the southeastern United States, has filed for bankruptcy.
In its filing, Krystal cited several contributing factors toward its bankruptcy: Increasing competition, shifting consumer tastes and the rise of online delivery platforms all have made it difficult for the 88-year-old brand to thrive. Also cited were the issues of retaining a trained labor pool coupled with an over 300% annual turnover rate.
The fast food chain first opened in 1932 in Chattanooga, Tennessee before moving its headquarters to Atlanta in 2013. Krystal, which claims to be the second-oldest quick-service restaurant in the US, operates roughly 300 restaurants and employs over 7,500 people.
The fast food chain first opened in 1932 in Chattanooga, Tennessee before moving its headquarters to Atlanta in 2013. Krystal, which claims to be the second-oldest quick-service restaurant in the US, operates roughly 300 restaurants and employs over 7,500 people.
Krystal shook up its leadership ranks in November, naming both a new president and chief operating officer following the abrupt departure of its CEO. The company is also experimenting with a new, smaller, store format that it has credited for boosting sales.
(Taken from the CNN.com Article - January 16th, 2020)
