There were years when the fried chicken fingers were expanded. The chains suffer constant movements. Sticky’swhich had an exponential growth, never recovered from losses at the time of the pandemic of COVID-19. Therefore, now he was hosted by Chapter 11 of the United States Bankruptcy Law and will close locals.
Sticky’s: The fried chicken chain presents bankruptcy
Sticky’s Finger Jointknown for his chicken fingers and his commitment to a young and urban experience, began a bankruptcy process under the Chapter 11 of the United States Bankruptcy Lawwhile trying to avoid total settlement.
The chain, founded on New York With the idea of offering a modern and creative version of the classic fried chicken, it came to position itself as a striking alternative among the millennial public.
With a menu based on fresh ingredients and a Colorful visual styleSticky’s seemed to have found its place. However, structural problems appeared that were exacerbated after the pandemic.
Like so many other small brands in USASticky’s suffered the economic impact of COVID-19. The fall in demand, the increase in operating costs and the dependence on face -to -face urban consumption left the company in a vulnerable financial position. Despite the efforts to remain in force, the chain He failed to recover completely from the blow.
-Besides, The competition in the fried chicken segment is brutal. KFC y Popeyes They are still undisputed leaders, while new brands backed by celebrities and large conglomerates -as McDonald’s With its line McCrispy– They intensified the fight for the consumer. Sticky’s, with a more modest structure and less resources to climb, could not keep the pace.
Leonardo Schwarz
Sticky’s: Financial problems
In the middle of the judicial process initiated in DelawareThe company acknowledged that its level of indebtedness far exceeded the value of its assets. Debt, estimated between one and ten million dollarsincludes pending payments to suppliers such as US Foods, in addition to commitments for breeding leases and demands related to brand use.
During his period under judicial protection, Sticky’s He closed several stores and a ghost kitchen. The cut sought to contain losses, but the panorama was still uncertain. However, this week a judge provisionally approved a sales agreement of assets for two million dollars to a private investment fund.
This movement could prevent the company from being forced to dissolve under Chapter 7, which would imply the definitive closure.
