Marie Callender’s Files Chapter 11 Bankruptcy, Closes Arizona Stores

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The company that owns or franchises the Marie Callender’s restaurants has filed for Chapter 11 bankruptcy protection. All Arizona restaurants are closing.

Before the filing, the restaurant chain had prepared and sought approval of a restructuring plan. Pre-negotiated bankruptcy plans are increasingly common.

Somewhat in conflict with the image of pre-filing preparation is the report that one Seattle location shut down mid-meal. The article does not describe the circumstances that would require such an immediate closure.

A pre-approved plan is not required in a Chapter 11 bankrutpcy case, and a case can even be filed on an emergency basis. Wherever possible, some thought should be given before filing into the plan the debtor will propose to creditors. If you are considering requesting Chapter 11 bankruptcy protection, you should consult with an attorney familiar with Chapter 11 bankruptcies to discuss your options. For a free consultation, call (480) 719-1152.

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