The restaurant industry is facing unprecedented challenges, with at least 17 national chains, including Buca di Beppo and Red Lobster, filing for Chapter 11 bankruptcy in 2024. Key factors contributing to this trend include rising inflation, changing consumer habits favoring home dining and delivery, and lower discretionary spending amid a cost-of-living crisis. The Pizza Bar in Melbourne has also gone into administration as the demand for takeaway food dwindles, while Lobster Cave faces closure due to significant debts. Industry experts note that bankruptcy filings in the sector have surged by 49% compared to previous years, reflecting a broader trend of corporate insolvencies affecting various industries. The implications of these bankruptcies could lead to job losses, vacant commercial properties, and supply chain disruptions. Despite the challenges, some chains are restructuring and seeking new investors to survive.