Rising meat prices have wreaked havoc on the barbecue space.
As the price of meat or chicken increases in many restaurants, pasta and vegetarian options also tend to lean more toward fish or chicken. That’s not something barbecue eateries can do because they can serve chicken and fish, with beef and pork being the stars of the show.
Omaha Stakes 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’re headed for what I’m calling…a $10-a-pound reality [the] In the third quarter of ’26, families will see $10 a pound [for] Ground meat at the grocery store. So we’re here for a little bit of shipping,” Omaha Steaks CEO Nate Rempe told Fox Business. “I don’t believe we’ll see the price.[s] Come down in any meaningful way by 2027.”
Ground beef has not reached those levels, but beef prices have increased.
The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, up 1.6% 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 lamb prices, the agency said.
“U.S. beef imports have surged as domestic cattle herds plummeted due to famine. China sent a record amount of beef last year amid the beef’s growing popularity,” Reuters reported.
A report by the Bureau of Labor Statistics showed that beef prices also increased.
More bankruptcies:
According to a report by the Bureau of Labor Statistics (BLS), “broadly declining cattle inventories pushed U.S. retail beef prices up 13% from a year earlier in August 2025.” “Through August, steak and beef prices were up 16.6% and 12.8%, respectively, year-over-year (YoY).”
Some experts think the worst is yet to come.
“As high as prices are, I still think there is risk for prices to go up rather than down,” said Michael Irgang, president and owner of Global Risk Management, a firm specializing in commodity risk management for the food and agribusiness industries, meat and poultry. “It’s a perfect storm of a bunch of different things coming together at the same time.”
This 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 are factors 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.
Ray Ray’s first opened in 2009. The company shared its vision on its website.
“What sets us apart is our love of American barbecue traditions and how we combine that old-school smoke with new-school magic. Since the beginning, our approach has attracted dedicated barbecue fans because they believe in three things about Ray Ray’s,” it posted.
The chain had already closed some locations before its Chapter 11 bankruptcy filing.
Johnstown location: off Until November 12, 2025.
Marion Place: off Until November 12, 2025.
Linworth Food Truck: Closed as part of consolidation in November 2025.
Source: Columbus Underground
The chain did not say in its bankruptcy filing that it plans to close any other locations. According to the Ray Ray’s Hog Pit website, four locations are currently in operation.
Clintonville (Columbus): eating and carrying food.
Source: Ray Ray Hugh Pit
Franklinton (at Land-Grant Brewing): BBQ service inside the brewery.
Westerville: Drive-thru and walk-up carry-out.
Granville: Dine-in and Drive-Thru.
Case Name:Smoke Ring, LLC has filed for Chapter 11 bankruptcy, according to Inforuptcy.
Court:United States Bankruptcy Court for the Southern District of Ohio (Columbus Division).: Federal bankruptcy court covering the central district of Ohio. Case Number:2:25-bk-55608: This is the unique docket number assigned to the filing.
Filed:December 19, 2025: a voluntary According to Inforuptcy, the Chapter 11 petition was filed on this date.
Debts and Assets: The company reported between $1 million and $10 million in both assets and liabilities.
judge: is assigned to Judge Mina Nami Khorrami.
Status:debtor in possession; During the restructuring, the company remains in control of its business operations.
Business Address and DBA Names:
• 6670 Busch Blvd., Columbus, OH 43229
• Also known as Ray Ray, Ray Ray’s Hog Pitand Ray Ray’s Ohio Style.
Next Stage Deadline: Under Subchapter V Rules, a The reorganization plan is scheduled to take place on March 19, 2026.
Source: Inforuptcy, PacerMonitor
Smokin’ Dutchman Holdings (Dickey’s Barbecue Franchise): A franchise operator of Dickey’s Barbecue Pit Filed in Michigan Chapter 11 Bankruptcy Citing financial stress from franchise obligations ($2.1M in debt) to restructure debt for four Dickey’s locations, Nation’s Restaurant News reported.
Smokin’ Dutchman (Michigan): Sometimes referenced in reports under the Dickey’s franchise context, highlighting tensions 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 closings; Assets were small compared to liabilities according to the taste table.
Burnt BBQ and Tacos (Plano, TX): Filed for Chapter 11 Subchapter V Bankruptcy in July 23, 2025. A small-business BBQ-style concept combining BBQ and tacos with limited credit, shares TheStreet.
RELATED: Breakfast-All-Day Chain Closes All Locations, Files Bankruptcy
This story was originally published by TheStreet on December 20, 2025, where it first appeared in the Restaurants section. Add TheStreet as a preferred source by clicking here.
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