Operator of high-end restaurants 'severely affected' by economy
E-Brands Restaurants LLC, the owner of a dozen high-end restaurants located around the country, has filed for Chapter 11 bankruptcy protection as a result of economic pressures. According to court filings, E-Brands said its restaurants “have been severely affected by the U.S. macro economy, which has resulted in a transient decline in earnings and cash flow.” The seven-year-old company said net sales fell from $56.7 million in 2008 to about $43.8 million in 2009, a 22.8-percent ...
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