delinquency

In November 2024, the company said it had received a filing delinquency notification from the New York Stock Exchange over its failure to meet timely filing requirements with the Securities and Exchange Commission.

The consequences of America’s affordability crisis are seen in “rising foreclosures and delinquency, especially for low- and middle-income households,” McCargo said.

Nearly two dozen chains and large restaurant-operating groups have filed for bankruptcy this year, according to BankruptcyData.com, which analyzed delinquencies from public companies and those with large liabilities.

Growing stress among lower-income households manifests in rising delinquency rates, shrinking buffers, and reductions in discretionary spending, which then hurt businesses that depend on widespread demand rather than high-margin customers.

Some have flagged signs of stress materializing among low-income consumers even as banks’ widely tracked credit measures, such as delinquencies, net charge-offs, and provisions for loan losses, are in good shape.