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Article: Prandium units seek protection as restructuring stays elusive.(Wall Street West)(restaurant chains file for Chapter 11 bankruptcy protection)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- October 13, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN a sign of further financial heartburn for Irvine-based Prandium Inc., the restaurant holding company's two largest chains, Chi-Chi's Inc. and Koo Koo Rod Inc., filed for Chapter 11 bankruptcy protection last week.
Chi-Chi's, with 128 sit-down restaurants concentrated in the Midwest, and Koo Koo Rod, the 29-unit California fast food chicken concept, filed in U.S. Bankruptcy Court in Wilmington, Del., where Prandium is incorporated.
Twelve Chi-Chi's affiliates, mostly based in Maryland and West Virginia, also filed bankruptcy papers. Chi-Chi's listed debts of $205 million and Koo Koo Rod listed debts between $1 million and $10 million.
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