ABSTRACT
The aim of this study is to investigate the financial failure risk levels of the restaurant chains with the highest brand value and to reveal the impact of the Covid-19 epidemic on the financial failure risk. For this purpose, the risks of financial failure of the 17 restaurant chains with the highest brand value according to the Brand Finance 2020 ranking were measured with Altman Z Score, Altman Z' Score, Altman Z'' Score, Springate, Fulmer and Ohlson models between 2016 and 2020. As a result of the analysis, it was determined that the number of restaurants at risk of financial failure tends to increase as we approach the past to the present in all models. However, whether there is a statistically significant difference in the context of financial failure risk scores between the pre-Covid-19 epidemic (2016-2019) and the Covid-19 epidemic period (2020) was tested with the Wilcoxon Signed Rank Test. According to the results obtained, a statistically significant difference was found between the pre-Covid-19 epidemic and the epidemic period in terms of financial failure values in all models except the Ohlson model.