Square 1 Burgers and Bar blamed an oversaturated market in a bankruptcy filing last week.
The Tampa-based company filed 12 separate bankruptcy petitions in U.S. Bankruptcy Court for the Middle District of Florida.
“Unfortunately, between 2014 and 2016, a number of restaurant franchises flooded the market saturating the areas around Square One’s restaurant with a litany of dining options. When the competition settled in, Square One struggled to breakeven and quickly fell behind with its creditors,” Square One said in its bankruptcy filing.
A Square 1 Burgers and Bar in Winter Park closed earlier this year. The owners were evicted from their location after reportedly falling behind on the rent.
The Square 1 Burgers location at Pinellas Plaza in The Villages remains open. It opened in 2014 and initially caused a stir when it became known the restaurant would allow dogs to dine on an outdoor patio.
