JB’s Family Restaurants Inc., which filed for Chapter 11 bankruptcy protection last month, has shuttered more than half of its 48 units across six Western states.
A company representative said the Tempe, Ariz.-based family dining chain, known for its breakfast bar, as of Thursday had 22 units remaining opening in Arizona, Idaho, Montana, New Mexico, Utah and Wyoming.
Of those remaining units, she said, 15 are franchised or licensed and seven are corporate-owned.
The chain, founded in 1961, filed for bankruptcy protection Feb. 28. The company reported debts ranging from $10 million to $50 million and assets between $1 million and $10 million.
A number of chains and franchise groups have filed Chapter 11 bankruptcy petitions over the past year. High-profile bankruptcy cases include E-Brands Restaurants; two Fat Burger subsidiaries in California and Nevada; Claim Jumper; CB Holding Corp., parent of the Charlie Brown’s and Bugaboo Creek Steak House concepts, which filed in November; and Uno Holding Corp., which filed in January 2010.
Contact Ron Ruggless at [email protected].
