U.S. BBQ chain closes half its restaurants, files Chapter 11
Daniel Kline
Sat, December 20, 2025
Rising meat prices have wreaked havoc on the barbecue space.
Many restaurants have the option of leaning more heavily on fish or chicken, maybe even pastas and vegetarian options, when meat prices climb. That's not something barbecue eateries can do because while they may serve chicken and fish, beef and pork are the stars of the show.
Omaha Steaks CEO Nate Rempe said the nation’s shrinking cattle supply and record demand are driving a "$10-per-pound reality" that could stretch family budgets for years.
"We are headed for what I'm calling…the $10-a-pound reality. By [the] third quarter of '26, families are gonna see $10 a pound [for] ground beef in the grocery store. So we're in for a bit of a haul here," Omaha Steaks’ CEO Nate Rempe told Fox Business. "I don't believe we'll see price[s] come down in any meaningful way until sometime in 2027."
Ground beef did not reach those levels, but beef prices are up.
The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, a 1.6% increase from June, FAO said.
FAO's meat price index hit a new all-time high of 127.3 points, up 1.2% from its previous peak in June, as strong import demand from China and the United States boosted beef and sheep meat prices, the agency said.
"U.S. beef imports have climbed after drought led to a decline in the domestic cattle herd. China shipped in record amounts of beef last year amid growing popularity of the meat," Reuters reported.
Bureau of Labor Statistics reports show rising beef prices as well.
"Drastically declining cattle inventories have made ground beef retail prices in the U.S. 13% dearer August 2025 than a year back," according to a Bureau of Labor Statistics (BLS) report. "By August, prices of steak and minced beef had surged by 16.6% and 12.8%, respectively, year-on-year (YoY)."
Some experts think the worst is yet to come.
“As high as prices are, I still think the risk is for prices to go up instead of down,” Michael Irgang, president and owner of Global Risk Management, a firm specializing in commodity risk management for the food and agribusiness industries, told Meat and Poultry. “It’s a perfect storm of a bunch of different things coming together at the exact same time.”
That adds to the woes of barbecue chains already facing struggling consumers, increased labor costs, and an overall challenging operating market. Taken together, all of these issues have factored in the Chapter 11 bankruptcy filing from Smoke Ring, LLC, which operates restaurants under the Ray Ray’s, Ray Ray’s Hog Pit, and Ray Ray’s Ohio Style brand names.
Smoke Rings/Ray Ray's file Chapter 11 bankruptcy
Ray Ray's first opened in 2009. The company shared its philosophy on its website.
"What makes us different is our love for American barbecue traditions and how we combine that old-school smoke with new-school magic. From the beginning, our approach has attracted dedicated barbecue fans because they trust three things about Ray Ray's," it posted.
The chain had already closed some locations prior to its Chapter 11 bankruptcy filing.
Recent Ray Ray's closures:
Johnstown location: Closed as of Nov. 12, 2025.
Marion location: Closed as of Nov. 12, 2025.
Linworth food truck: Closed in November 2025 as part of consolidation.
Source: Columbus Underground
The chain did not state in its bankruptcy filing whether it planned to close any other locations. Currently, four locations remain in operation, according to the Ray Ray's Hog Pit website.
Clintonville (Columbus): Dine-in & carry-out.
Source: Ray Rays Hog Pit
Franklinton (at Land-Grant Brewing): BBQ service inside a brewery.
Westerville: Drive-thru & walk-up carry-out.
Granville: Dine-in & drive-thru.
Smoke Ring, LLC bankruptcy details
Case name:Smoke Ring, LLC has filed Chapter 11 bankruptcy, according to Inforuptcy.
Court:United States Bankruptcy Court for the Southern District of Ohio (Columbus Division): The federal bankruptcy court covering Ohio’s central region. Case number:2:25-bk-55608: This is the unique docket number assigned to the filing.
Filed:December 19, 2025: A voluntary Chapter 11 petition was submitted on this date, according to Inforuptcy.
Debts and assets: The company reported between $1 million and $10 million in both assets and liabilities.
Judge: Assigned to Judge Mina Nami Khorrami.
Status:Debtor in possession; the company remains in control of its business operations while restructuring.
Business address & DBA names:
• 6670 Busch Blvd., Columbus, OH 43229
• Also known as Ray Ray’s, Ray Ray’s Hog Pit, and Ray Ray’s Ohio Style.
Next step deadline: Under Subchapter V rules, a reorganization plan is due by March 19, 2026.
Sources: Inforuptcy, PacerMonitor
2024 and 2025 BBQ‑related bankruptcy filings
Smokin’ Dutchman Holdings (Dickey’s Barbecue franchisee): A franchise operator of Dickey’s Barbecue Pit in Michigan filed for Chapter 11 bankruptcy to reorganize debt for four Dickey’s locations, citing financial strain from franchise obligations ($2.1M debt), reported Nation's Restaurant News.
Smokin’ Dutchman (Michigan): Sometimes referenced in reports under Dickey’s franchisee context, highlighting stress in the franchise BBQ ecosystem, according to QSR Magazine.
Sticky Fingers Restaurants LLC (BBQ chain): Filed for Chapter 11 bankruptcy in March 2025 after years of financial pressure, including leadership changes and restaurant closures; assets were small compared to liabilities, according to Tasting Table.
Burnt BBQ & Tacos (Plano, TX): Filed for Chapter 11 Subchapter V bankruptcy on July 23, 2025. A small‑business BBQ‑style concept combining BBQ and tacos with limited debt, shared TheStreet.
Related: Breakfast-all-day chain closes all locations, files bankruptcy
This story was originally published by TheStreet on Dec 20, 2025, where it first appeared in the Restaurants section
Daniel Kline
Sat, December 20, 2025
Rising meat prices have wreaked havoc on the barbecue space.
Many restaurants have the option of leaning more heavily on fish or chicken, maybe even pastas and vegetarian options, when meat prices climb. That's not something barbecue eateries can do because while they may serve chicken and fish, beef and pork are the stars of the show.
Omaha Steaks CEO Nate Rempe said the nation’s shrinking cattle supply and record demand are driving a "$10-per-pound reality" that could stretch family budgets for years.
"We are headed for what I'm calling…the $10-a-pound reality. By [the] third quarter of '26, families are gonna see $10 a pound [for] ground beef in the grocery store. So we're in for a bit of a haul here," Omaha Steaks’ CEO Nate Rempe told Fox Business. "I don't believe we'll see price[s] come down in any meaningful way until sometime in 2027."
Ground beef did not reach those levels, but beef prices are up.
The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, a 1.6% increase from June, FAO said.
FAO's meat price index hit a new all-time high of 127.3 points, up 1.2% from its previous peak in June, as strong import demand from China and the United States boosted beef and sheep meat prices, the agency said.
"U.S. beef imports have climbed after drought led to a decline in the domestic cattle herd. China shipped in record amounts of beef last year amid growing popularity of the meat," Reuters reported.
Bureau of Labor Statistics reports show rising beef prices as well.
"Drastically declining cattle inventories have made ground beef retail prices in the U.S. 13% dearer August 2025 than a year back," according to a Bureau of Labor Statistics (BLS) report. "By August, prices of steak and minced beef had surged by 16.6% and 12.8%, respectively, year-on-year (YoY)."
Some experts think the worst is yet to come.
“As high as prices are, I still think the risk is for prices to go up instead of down,” Michael Irgang, president and owner of Global Risk Management, a firm specializing in commodity risk management for the food and agribusiness industries, told Meat and Poultry. “It’s a perfect storm of a bunch of different things coming together at the exact same time.”
That adds to the woes of barbecue chains already facing struggling consumers, increased labor costs, and an overall challenging operating market. Taken together, all of these issues have factored in the Chapter 11 bankruptcy filing from Smoke Ring, LLC, which operates restaurants under the Ray Ray’s, Ray Ray’s Hog Pit, and Ray Ray’s Ohio Style brand names.
Smoke Rings/Ray Ray's file Chapter 11 bankruptcy
Ray Ray's first opened in 2009. The company shared its philosophy on its website.
"What makes us different is our love for American barbecue traditions and how we combine that old-school smoke with new-school magic. From the beginning, our approach has attracted dedicated barbecue fans because they trust three things about Ray Ray's," it posted.
The chain had already closed some locations prior to its Chapter 11 bankruptcy filing.
Recent Ray Ray's closures:
Johnstown location: Closed as of Nov. 12, 2025.
Marion location: Closed as of Nov. 12, 2025.
Linworth food truck: Closed in November 2025 as part of consolidation.
Source: Columbus Underground
The chain did not state in its bankruptcy filing whether it planned to close any other locations. Currently, four locations remain in operation, according to the Ray Ray's Hog Pit website.
Clintonville (Columbus): Dine-in & carry-out.
Source: Ray Rays Hog Pit
Franklinton (at Land-Grant Brewing): BBQ service inside a brewery.
Westerville: Drive-thru & walk-up carry-out.
Granville: Dine-in & drive-thru.
Ray Ray's has been a local favorite since 2009.Ray Ray's Hog Pit
Smoke Ring, LLC bankruptcy details
Case name:Smoke Ring, LLC has filed Chapter 11 bankruptcy, according to Inforuptcy.
Court:United States Bankruptcy Court for the Southern District of Ohio (Columbus Division): The federal bankruptcy court covering Ohio’s central region. Case number:2:25-bk-55608: This is the unique docket number assigned to the filing.
Filed:December 19, 2025: A voluntary Chapter 11 petition was submitted on this date, according to Inforuptcy.
Debts and assets: The company reported between $1 million and $10 million in both assets and liabilities.
Judge: Assigned to Judge Mina Nami Khorrami.
Status:Debtor in possession; the company remains in control of its business operations while restructuring.
Business address & DBA names:
• 6670 Busch Blvd., Columbus, OH 43229
• Also known as Ray Ray’s, Ray Ray’s Hog Pit, and Ray Ray’s Ohio Style.
Next step deadline: Under Subchapter V rules, a reorganization plan is due by March 19, 2026.
Sources: Inforuptcy, PacerMonitor
2024 and 2025 BBQ‑related bankruptcy filings
Smokin’ Dutchman Holdings (Dickey’s Barbecue franchisee): A franchise operator of Dickey’s Barbecue Pit in Michigan filed for Chapter 11 bankruptcy to reorganize debt for four Dickey’s locations, citing financial strain from franchise obligations ($2.1M debt), reported Nation's Restaurant News.
Smokin’ Dutchman (Michigan): Sometimes referenced in reports under Dickey’s franchisee context, highlighting stress in the franchise BBQ ecosystem, according to QSR Magazine.
Sticky Fingers Restaurants LLC (BBQ chain): Filed for Chapter 11 bankruptcy in March 2025 after years of financial pressure, including leadership changes and restaurant closures; assets were small compared to liabilities, according to Tasting Table.
Burnt BBQ & Tacos (Plano, TX): Filed for Chapter 11 Subchapter V bankruptcy on July 23, 2025. A small‑business BBQ‑style concept combining BBQ and tacos with limited debt, shared TheStreet.
Related: Breakfast-all-day chain closes all locations, files bankruptcy
This story was originally published by TheStreet on Dec 20, 2025, where it first appeared in the Restaurants section
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