NEW YORK - March 7, 2011 - Record-high food prices could be the tipping point this year for U.S. restaurants already struggling with high debt loads and tight-fisted consumers.

The economic downturn and drop in consumer spending has sent a handful of restaurant chains - such as Uno Chicago Grill pizza, Fuddruckers and Charlie Brown’s Steakhouse - into bankruptcy court during the past year; and some experts say 2011 is not likely to be much better.

“There are many companies that can absorb an increase in food costs,” said Steven Simms, a senior managing director at FTI Consulting who has worked on restaurant restructurings. “For companies that are teetering on the edge though, it’s just one more pressure point that they are going to experience as it relates to profitability and their ability to service debt.”

Food prices have soared as consumers in emerging economies have grown richer and erratic climate conditions have hurt supplies. Wheat prices have surged 60% this year, and restaurants have also been hit by increases in beef, cheese, cooking oil and produce costs.

Larger companies with strong finances are not seen falling under these pressures. Chains such as McDonald’s Corp, Starbucks Corp and Yum Brands, Inc. can selectively raise prices to offset higher food costs. They also can use hedging strategies to lock in food prices.

Restaurants that have not locked in prices can feel the effects of food cost increases on their profits within a week, said Simms. It also can be difficult for smaller chains to obtain new financing, he added.