Vapianos has now announced it has filed for insolvency due to the coronavirus outbreak.
The German restaurant franchise company has applied to start bankruptcy proceedings at a district court in Cologne, Germany.
Shares in the company have plummeted by two thirds and the company has since failed to negotiate with shareholders and creditors on a liquidity injection of 36.7 million euros.
All Vapiano restaurants in Germany will remain closed until further notice, but the bankruptcy application will not affect restaurants in other parts of the world.