NEW YORK Restaurant operators, already scrambling to fund growth, may need to reach deeper into their bag of tricks as CIT Group Inc., a large industry lender, has filed for Chapter 11 bankruptcy protection from creditors. While the New York-based CIT Group said that a prepackaged plan for reorganization, approved by 90 percent of its creditors, will help it continue to provide funding to its small and middle market clients, many restaurateurs have said for months that CIT is ...
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Contact: Desiree Torres Desiree.Torres@penton.com