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BurgerFi announced Monday that it’s exploring a sale via bankruptcy after an out-of-court attempt became unviable. The proposed sales and bidding process in court is part of a financing agreement in which the company received $3.5 million from its lender TREW Capital Management. The money will be used to stabilize operations and negotiate with vendors and landlords.

“The Company has worked very hard to ensure that the transition into Chapter 11 would have no impact on our valued employees, customers and franchise partners,” CEO Carl Bachmann said in a statement. “We are very pleased that we received approval of our key motions to support our continued operations including employee wages and benefits, cash management and customer programs.”