Former Brio, Bravo Restaurant Owner to Dismiss Bankruptcy Case

FoodFirst Global Restaurants Inc., the former owner of the Brio Italian Mediterranean and Bravo Cucina Italian restaurant chains, is seeking to dismiss its Chapter 11 bankruptcy after selling its assets to an affiliate of the owner of Planet Hollywood.

FoodFirst doesn’t have enough money to pay even priority claims, so it can’t confirm a liquidation plan, according to the company’s motion filed Wednesday in the U.S. Bankruptcy Court for the Middle District of Florida.

Converting the case to a Chapter 7 liquidation doesn’t make sense for the same reason, the company said.

FoodFirst filed Chapter 11 April 10, a consequence ...