BiState Bistro Associates, a 12-unit T.G.I. Friday's franchisee, filed for Chapter 11 bankruptcy protection last week, a result of financial hardships stemming from the closure of the operator’s 13th location in Fayetteville, Ark. The Chesterfield, Mo.-based BiState said in bankruptcy court papers that it is seeking to resolve $9.5 million in secured debt through a structured reorganization. All of the franchisee’s 12 restaurants, including five units in the St. Louis area and ...
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Contact: Desiree Torres Desiree.Torres@penton.com