Perkins files for bankruptcy
Perkins & Marie Callender’s Inc., the owner or franchiser of about 600 restaurants, filed for bankruptcy today amid reduced consumer spending and higher costs for staples such as sugar, eggs, coffee and dairy products, Bloomberg reported. The Memphis, Tenn.-based company listed assets of $290 million and debt of $441 million in the Chapter 11 filing in U.S. Bankruptcy Court in Wilmington, Del. It plans to shut about 65 restaurants and eliminate about 2,500 jobs, according to court documents.
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