801 Restaurant Group Files for Bankruptcy Amid Financial Struggles
The parent company of 801 Chophouse, 801 Restaurant Group, has filed for Chapter 11 bankruptcy, citing the need to restructure debt. While the company claims that individual restaurant locations are not in bankruptcy and will remain open, the filing lists liabilities of approximately $18.7 million, primarily due to the closure of two underperforming locations.
Topics: bankruptcy closure risks corporate debt financial restructuring restaurant industry