Ignite Restaurant Group

Download (1.51 MB)

Ignite Restaurant Group (OTC: IRGT) is the owner of Joe's Crab Shack and Brick House Tavern + Tap. The company’s operating results have been weak over the past year, with the company in the bottom 25% of its restaurant peers on key operating margin, EBITDA margin, and profit margin metrics. In addition, the company exhibits negative cash flow, negative net worth and cash at low levels relative to liabilities.

Ignite Restaurant Group’s FRISK® score has fallen to a 1, putting it at the highest bankruptcy risk level possible on the FRISK® score scale. CreditRiskMonitor’s proprietary FRISK® score, calculated daily, is 96% accurate in predicting bankruptcy over next 12 months. Our High Risk Report on Ignite Restaurant Group provides analysis on what is driving the low FRISK® score and includes other warning signs about the company.

About High Risk Reports

CreditRiskMonitor’s High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.

The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.

The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.