801 Restaurant Group LLC Files for Chapter 11 Bankruptcy Amid Beef Price Surge

AI Summary

801 Restaurant Group LLC, owner of 801 Chophouse, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Kansas on April 10, with assets and liabilities between $10 million to $50 million. The filing comes amid a 16% increase in the price of steaks to $12.73 per pound and ground beef to $6.70 per pound in March 2026, driven by a decline in the U.S. beef cattle herd to a 75-year low of 86.2 million head. The high prices have negatively impacted consumer demand, prompting closures in the restaurant sector. The company owns eight locations across various states including Denver, Des Moines, and Kansas City.