Fast-casual chain BurgerFi has warned its investors in a filing with the U.S. Securities and Exchange Commission (SEC) that it may be forced to file for bankruptcy. “If the company does not obtain sufficient relief from its senior lender and sufficient additional liquidity from potential liquidity providers or from the sale of company assets to meet its current obligations, it may seek protection under applicable bankruptcy laws.”

The warning came after BurgerFi – which has 102 locations nationwide, as well as 60 Anthony’s Coal Fired Pizza locations – failed to file its latest quarterly report. However, the company expects to post a net loss of $18.4 million, compared to a net loss of $6 million last year. Higher salaries and lower sales, as well as the rising price of chicken wings, are blamed for the decline.

BurgerFi estimates its cash balance at $4.4 million and noted that its liquidity position “causes significant doubt about the company’s ability to continue as a going concern.” The company is currently seeking a buyer for some or all of its assets.

BurgerFi first hinted that things weren’t going well in May, saying it was looking for “strategic alternatives” due to its cash flow problems. On August 9, the company received $2.5 million in emergency funding from a lender, but warned that it might not be enough to pay its bills.

The company’s shares fell 27% to just 27 cents per share on Tuesday morning. In July 2020, the price was still almost $18 per share.

The chain’s problems come after several fast-food chains have cut their prices in recent months to win back customers frustrated with rising prices. This year has seen many claims of “McFlation,” following reports of chicken sandwiches costing around $8 and Big Mac meals costing $18. McDonald’s CEO Joe Erlinger addressed this in July, releasing a public letter to counter the “viral social media posts and poorly researched reports that McDonald’s has raised prices well above the rate of inflation.”