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Restaurants Unlimited, a Seattle-based chain with restaurant locations in 47 US cities, announced on Sunday it was seeking Chapter 11 protection, citing “progressive” wage laws.
The company, which has operated since the Lyndon Johnson Administration, said rising labor costs—part of a national trend of government-mandated minimum increases—were part of its decision.
Years - Company - Profitability - Wage - Laws
“Over the past three years, the company’s profitability has been significantly impacted by progressive wage laws along the Pacific coast that have increased the minimum wage,” Chief Restructuring Officer David Bagley said in court filings, The Seattle Times reports. "As a large employer in the Seattle metro market, for instance, the company was one of the first in the market to be forced to institute wage hikes."
The minimum wage was not the only factor Restaurants Unlimited blamed for their impending bankruptcy. The company also cited a pair of soft restaurant openings and a decline in casual dining.
Congressional - Budget - Office - Report - House
The Congressional Budget Office released a report estimating that a House bill designed to raise the federal minimum...
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