Bankruptcy doesn’t discriminate, especially for restaurant companies. The foodservice industry operates on the tightest of margins, and for the past few years many restaurants have taken on loads of debt, whether to support the merger-and-acquisition rush or to garner funds for expansion. With declining sales during the recession, increasing food costs and banks that can’t let lending covenants slip, the industry has been ripe for bankruptcy filings. Chapter 11 bankruptcy court ...
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