BurgerFi International (BFI) said Monday evening that it received interim court approval to access $3.5 million in debtor-in-possession financing from an affiliate of TREW Capital Management.
The company, which filed for Chapter 11 bankruptcy protection last week, said the liquidity will help stabilize its operations.
As part of the financing agreement, the company said it plans to propose a sale of the business, pending a court hearing scheduled for Oct. 7.
Shares of the company soared nearly 86% in recent Tuesday trading.
Price: 0.23, Change: +0.10, Percent Change: +85.95
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