Perkins & Marie Callender’s Seeks Sale in Chapter 11 Bankruptcy

Aug. 5, 2019, 12:37 PM; Updated: Aug. 5, 2019, 2:53 PM

Restaurant operator and pie maker Perkins & Marie Callender’s LLC filed for Chapter 11 protection from creditors in Delaware as it seeks to sell itself.

The company, which operates and franchises Perkins Restaurant and Bakery as well as Marie Callender’s Restaurant and Bakery, owes its lenders more than $100 million. It’s the second bankruptcy for the chain, which emerged from its last round of court protection in 2011.

Perkins & Marie Callender’s skipped interest payments on a credit facility last year amid rising labor costs and negative sales, Chief Executive Officer Jeffrey Warne said in a court declaration.

The company ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.