UFood Restaurant Group, the parent of UFood Grill, said the prolonged economic downturn aggravated by a pair of underperforming company stores prompted it to file for Chapter 11 bankruptcy protection. Richard Golden, the recently appointed chief executive of the Newton, Mass.-based fast-casual chain, said in a legal filing in Boston Bankruptcy Court that the company hopes to restructure “the balance sheet and return to a point of positive cash flow.” RELATED • ...
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Contact: Desiree Torres Desiree.Torres@penton.com