A Kansas-based restaurant group with several steak and seafood locations in Kansas, Missouri, Minnesota, Colorado, Virginia, Nebraska and Iowa, has filed for bankruptcy.
801 Restaurant Group LLC filed for Chapter 11 reorganization last Friday in U.S. Bankruptcy Court in Kansas, the company confirmed to Fox Business.
The business owns several companies that operate restaurants as 801 Chophouse, 801 Fish and 801 Local.
RISING FUEL COSTS THREATEN SPIRIT AIRLINES’ BANKRUPTCY EXIT PLAN: REPORTS
“The companies that own and operate the restaurants are not in bankruptcy, and there are no plans or need for them to file bankruptcy,” 810 Restaurant Group said in a press release.
“The individual restaurant companies operating successfully are not impacted by the 801 Restaurant Group’s Chapter 11 filing.”
The company added that it became necessary to restructure because of guarantees it made to other companies it owns, including 801 Fish in downtown Denver and 801 On Nicollet in Minneapolis, which have both closed.
“The purpose of the Chapter 11 is to restructure these and other obligations for which 801 Restaurant Group has liability,” the release said.
SEARS SUED BY STANLEY BLACK & DECKER OVER CRAFTSMAN BRAND
The court filing shows liabilities totaling roughly $18.7 million, according to documents obtained by Fox Business.
The company said the filing is “not expected to have any impact on the remaining locations,” which will operate normally during their restructuring.
The restaurants that remain open include 801 Chophouses in Denver, Des Moines, Omaha, Kansas City, Leawood, St. Louis, Minneapolis and Tysons Corner in the Washington, D.C., area, and 801 Fish in St. Louis.
The Des Moines restaurant was the original 801 Chophouse location, which opened in 1993.
Read the full article here
