A POPULAR BBQ chain known for selling its signature sauces in over 2,000 locations has filed for bankruptcy.
South Carolina-based Sticky Fingers Restaurants has filed for Chapter 11 bankruptcy protection, marking another blow to the struggling restaurant industry.
2
The barbecue chain, known for its signature sauces sold in over 2,000 retail locations, has faced financial troubles for years.
Founded in 1992, Sticky Fingers once operated 15 locations.
Over time, ownership changes led to inconsistent leadership, which, according to the company’s website, resulted in declining food quality, service issues, and ultimately a drop in sales.
The chain had 11 locations in South Carolina, Tennessee, and Florida before the COVID-19 pandemic but was forced to shutter nine due to economic hardships.
In an attempt to recover, the company later opened two more locations, bringing its total to four—Greenville, North Charleston, and Summerville, S.C., as well as Chattanooga, Tenn.
However, these efforts were not enough to keep the business afloat.
Sticky Fingers built a loyal fan base with its menu featuring barbecue pork ribs, smoked brisket, pulled pork, smoked chicken, wings, and a variety of Southern sides like fried okra, mac and cheese, and baked beans.
The popularity of its house-made barbecue sauces led to a successful grocery line, expanding the brand beyond its restaurant locations.
According to court documents, the company listed assets of up to $50,000 while facing liabilities between $1 million and $10 million.
This filing is separate from Sticky’s Holdings, the parent company of New York City-based chicken tender brand Sticky’s, which also filed for Chapter 11 last year due to financial struggles linked to the pandemic.
Sticky Fingers’ bankruptcy follows a wave of industry collapses, with On the Border filing for bankruptcy recently and several well-known chains such as Red Lobster, TGI Fridays, Hawkers Asian Street Food, and Melt Bar & Grilled facing financial difficulties.
Experts say 2024 has been one of the toughest years for the restaurant sector since 2020.
2
