The Addison, Texas-based gastropub chain’s lenders acted as the stalking-horse purchaser during the transaction.

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The parent of Village Inn and Bakers Square said it arranged for $20 million in financing from its majority equity owner, Cannae Holdings.

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In its second filing in four years, the chain said its business model no longer worked.

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The asset sale included 261 restaurants; 77 franchise locations were not part of the Chapter 11 filing.

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TooJay’s Gourmet Deli parent TooJay’s Management LLC filed for Chapter 11 bankruptcy in April, citing coronavirus and noting its $6.4 million PPP loan. The chain emerged from bankruptcy in September with a new owner, private-equity firm Monroe Capital.

Garden Fresh Restaurant, owner of Sweet Tomatoes and Souplantation, filed for Chapter 7 liquidation in May, not seeing a path to reopening amid pandmic restrictions.

Sustainable Restaurant Holdings, parent of Bamboo Sushi and QuickFish, filed for Chapter 11 bankruptcy in May. In July, the company was bought by investment firm Sortis Holdings.

IHOP franchisee CFRA Holdings filed for Chapter 11 bankruptcy protection in May, after closing its 49 restaurants. Those restaurants were bought by Guillermo Perales’ Sun Holdings in October and are now operated by Suncales LLC.

The U.S. arm of Le Pain Quotidien filed for Chapter 11 reorganization in May, agreeing to sell its units to Aurify Brands LLC. 

CEC Entertainment, parent to Chuck E. Cheese and Peter Piper Pizza, filed for Chapter 11 bankruptcy in June. The company emerged from bankruptcy in January, having completed its restructuring. 

Twisted Root Burger Co. filed for Chapter 11 bankruptcy in June.

Pizza Hut and Wendy’s franchisee NPC International Inc. filed for Chapter 11 bankruptcy protection in July. In January, a bankruptcy court approved the sale of its restaurants to Wendy's parent company and Flynn Restaurant Group.

California Pizza Kitchen filed for Chapter 11 bankruptcy in July and emerged in November.

Matchbox Food Group filed for Chapter 11 bankruptcy in August. The casual-dining chain was acquired by Thompson Hospitality in November.

The parent company of Garbanzo Mediterranean Fresh filed for Chapter 11 bankruptcy protection in August. That chain and Frutta Bowls were acquired by Saladworks’ parent company in December. 

Blue Star Doughnuts LLC sought Chapter 11 bankruptcy protection in August 

Cosmoledo LLC, parent to Maison Kayser, declared Chapter 11 bankruptcy in September. Aurify Brands bought the units in November with the intention of converting them to Le Pain Quotidien. 

Sizzler USA filed for Chapter 11 bankruptcy in September. 

Golden Corral franchise group 1069 Restaurant Group LLC filed Chapter 11 bankruptcy in October. 

Ruby Tuesday filed for Chapter 11 bankruptcy in October and emerged in February.

Applebee’s franchisee Wisconsin Apple LLC filed for Chapter 11 bankruptcy protection in October. 

Rubio’s Coastal Grill filed prepackaged Chapter 11 bankruptcy in October. A bankruptcy court confirmed the reorganization plan in December.

The dine-in movie theater chain saw revenues plummet during the coronavirus pandemic.

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By Chloe filed Chapter 11 bankruptcy in December and went up for sale despite a legal battle. It was acquired in March.