High-end steakhouse chain files for Chapter 11 bankruptcy

Americans are facing an summation successful beef prices that resulted successful a 16% spike successful the terms of steaks to $12.73 per lb and crushed beef to $6.70 per lb successful March 2026, according to information from the Federal Reserve Bank of St. Louis, WIBC- Radio reported.

Five years ago, crushed beef averaged $3.96 per pound, and $3.75 a lb 10 years ago, the study said.

Rising beef prices person been spurred by a diminution successful the U.S. beef cattle herd, with the full cattle and calf number reaching a 75-year debased of 86.2 cardinal head, down from 86.5 cardinal a twelvemonth ago, according to U.S. Department of Agriculture information reported by the Texas Farm Bureau.

As the terms of beef increases astatine some supermarkets and restaurants, user request for the merchandise besides slides, reducing income successful these retail sectors.

The steakhouse edifice assemblage has been deed by terms increases, starring definite establishments to adjacent businesses and, successful immoderate cases, record for bankruptcy protection.

The proprietor of the high-end steakhouse concatenation 801 Chophouse has filed for Chapter 11 bankruptcy extortion to restructure its debts and support operating its restaurants, the Des Moines Register reported.

801 Restaurant Group LLC filed its petition, Case No. 26-20549, successful the U.S. Bankruptcy Court for the District of Kansas successful Kansas City connected April 10, listing $10 cardinal to $50 cardinal successful assets and liabilities, according to PacerMonitor.

The institution did not authorities a circumstantial crushed for filing for bankruptcy.

The Overland Park, Kan., debtor is represented by Brown & Ruprecht PC successful the bankruptcy case, according to Inforuptcy.

The edifice relation owns 8 801 Chophouse locations successful Denver, Des Moines Iowa, Kansas City, Mo., Leawood, Kan., Minneapolis, Omaha, Neb., St. Louis, Mo., and Tysons Corner, Va.

The debtor already closed an affiliate edifice successful Minneapolis, 801 Nicollet, which had antecedently operated nether different name, 801 Fish.

801 Chophouse serves aged USDA premier cuts, bedewed and dry-aged products, Japanese and home Wagyu beef, in-house pastry desserts, small-batch bourbons and scotches, and an award-winning vino list, according to its website.

The steakhouse's paper includes its Rosewood Ranches American ribeye astatine $145, a dry-aged porterhouse astatine $143, a 16-ounce wet-aged bone-in filet astatine $130, a 12-ounce filet mignon astatine $87, an 801 chopped bone-in premier rib astatine $79, and a 16-ounce ribeye astatine $77.

Several ample steakhouse chains besides person closed dozens of locations without needing to record for bankruptcy protection.