Kincaid’s Restaurant Owner RUI Files for Bankruptcy

RUI Holding Corp., a West Coast restaurant operator, has filed for bankruptcy, citing higher labor costs and falling revenue.

The company’s Chapter 11 filing in the U.S. Bankruptcy Court for the District of Delaware July 7 showed a 1% year-over-year revenue decline to $176 million for the 12 months ending May 31. New minimum wage laws in San Francisco, Portland, and Seattle contributed to rising labor costs, it said.

The company, which operates 35 restaurants in six states, listed a range of $50 million to $100 million for both liabilities and assets. Its brands include Kincaid’s, Palomino and Stanford’s.

Three ...