Rising meat prices have wreaked havoc on the barbecue space.
Many restaurants have the option to lean more heavily on fish or chicken, perhaps even pasta and vegetarian options, when meat prices rise. It’s not something barbecue restaurants can do, because while they can serve chicken and fish, the beef and pork are the stars of the show.
Omaha Steaks CEO Nate Rempe said the nation’s dwindling cattle supply and record demand are leading to a “$10 per pound reality” that could stretch family budgets for years.
“We’re headed for what I call … the reality of $10 a pound. By [the] In the third quarter of 26, families will see $10 per pound [for] grocery store ground beef. So we need a little bit of carry over here,” Omaha Steaks CEO Nate Rempe told Fox Business. “I don’t think we’ll see the price[s] descend in any significant way until sometime in 2027.”
Beef has not reached those levels, but beef prices are rising.
The FAO food price index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, up 1.6 percent from June, FAO said.
The FAO meat price index hit a new all-time high of 127.3 points, up 1.2 percent from the previous peak in June, as strong import demand from China and the United States boosted beef and sheep prices, the agency said.
“U.S. beef imports surged after drought led to a decline in domestic cattle herds. China shipped record amounts of beef last year amid growing popularity of the meat,” Reuters reported.
Bureau of Labor Statistics reports also show beef prices rising.
More bankruptcy:
“The sharp drop in cattle stocks made US retail ground beef prices 13% more expensive in August 2025 than a year ago,” according to a report from the Bureau of Labor Statistics (BLS). “Through August, steak and ground beef prices were up 16.6% and 12.8%, respectively, year-on-year (YoY).”
Some experts believe the worst is yet to come.
“As high as prices are, I still think the risk is that prices will go up rather than down,” Michael Irgang, president and owner of Global Risk Management, a firm that specializes in commodity risk management for the food and agribusiness industry, told Meat and Poultry. “It’s a perfect storm of a bunch of different things coming together at exactly the same time.”
This adds to the woes of barbecue chains already facing struggling consumers, increased labor costs and a challenging overall operating market. Taken together, all of these issues factored into the Chapter 11 bankruptcy filing of Smoke Ring, LLC, which operates restaurants under the Ray Ray’s, Ray Ray’s Hog Pit and Ray Ray’s Ohio Style restaurants.
Ray Ray first opened in 2009. The company shares its philosophy on its website.
“What makes us different is our love of 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,” he posted.
The chain had already closed some locations before filing for Chapter 11 bankruptcy.
Location in Johnstown: Closed from November 12, 2025.
Marion location: Closed from November 12, 2025.
Linworth Food Truck: closed in November 2025 as part of consolidation. Source: Columbus Underground
The chain did not say in its bankruptcy filing whether it planned to close 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): Grill service inside a brewery.
Westerville: transport by car and travel.
Granville: Dine-in & drive-thru.
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Ray Ray has been a local favorite since 2009.Ray Ray’s Pig Pit
Case name:Smoke Ring, LLC 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 Ohio region. Case number:2:25-bk-55608: This is the unique file number assigned to the submission.
Archived:December 19, 2025:A voluntary The Chapter 11 petition was filed on this date, according to Inforuptcy.
Liabilities 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 during the restructuring.
Company address and DBA name: • 6670 Busch Blvd., Columbus, OH 43229 • Also known as Ray Ray’s, Ray Ray’s Pig Pitand Ray Ray’s Ohio Style.
Deadline for next step: According to the rules of Subchapter V, a the reorganization plan is valid until March 19, 2026. Sources: Inforuptcy, PacerMonitor
Smokin’ Dutchman Holdings (Franchisee of Dickey’s Barbecue): A franchise operator of Dickey’s Grill in Michigan requested Chapter 11 bankruptcy to restructure debt for four Dickey’s locations, citing financial stress from franchise obligations ($2.1 million in debt), Nation’s Restaurant News reported.
Smokin’ Dutchman (Michigan): Sometimes mentioned in reports in the context of Dickey’s franchisees, highlighting stress in the BBQ franchise 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 management changes and restaurant closings; assets were small compared to liabilities, according to the Tasting Table.
Burnt BBQ and Tacos (Plano, TX): Filed for Chapter 11 Subchapter V bankruptcy on July 23, 2025. A small-business barbecue-style concept that combines barbecue and tacos with limited debt, shared by TheStreet.
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This story was originally published by TheStreet on December 20, 2025, where it first appeared in the Restaurants section. Add TheStreet as a favorite source by clicking here.
