Ignite Restaurant Group, Inc.

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Ignite Restaurant Group, Inc. filed for Chapter 11 bankruptcy protection on June 6, 2017. Leading up to the event, Ignite displayed bottom quartile rankings across multiple financial metrics relative to industry peers. Notably, the restaurant owner reported anemic same-store sales, which in part reflected the weakness shown across the casual dining space.

This Bankruptcy Case Study provides important information that helps explain the increases in Ignite's financial risk over the last year or so. For example, its current ratio showed an incremental decline over the last five sequential quarters, a key liquidity measure for restaurant operators. However, there is more to the story of this food chain's downfall.

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CreditRiskMonitor Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using CreditRiskMonitor’s proprietary FRISK® score, robust financial database, and timely news alerts.

In nearly every case, a low FRISK® score gave our subscribers early warning of financial distress within a one-year time horizon. CreditRiskMonitor's proprietary FRISK® score predicts bankruptcy risk at public companies with 96% accuracy. The score is formulated by a number of indicators including stock market capitalization and volatility, financial ratios, bond agency ratings from Moody’s, Fitch and DBRS, and crowdsourced behavioral data from a subscriber group that includes 35% of the Fortune 1000 and thousands more worldwide.

Whether you are new to credit analysis or have decades of experience under your belt, CreditRiskMonitor Bankruptcy Case Studies offer unique insights into the business and financial decline that precedes bankruptcy.