June 13, 2011
Perkins & Marie Callender's Files for Chapter 11 Protection
"Perkins & Marie Callender's Inc. filed for Chapter 11 bankruptcy protection Monday after securing key creditors' support for a plan to slash the company's $440 million debt load.
Early papers filed in the U.S. Bankruptcy Court in Wilmington, Del., put holders of $190 million worth of senior notes at the top of the list of unsecured creditors. Existing lenders led by a division of Wells Fargo & Co., owed nearly $10.1 million, have offered up to $21 million worth of bankruptcy financing, court papers say.
The company reported assets of $290 million in its bankruptcy petition."
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