Valley Beef LLC, a franchisee of five St. Louis area Lion’s Choice restaurants, has filed for bankruptcy.
Clayton-based Valley Beef, led by Thomas Ginos, filed the Chapter 11 bankruptcy petition Thursday in St. Louis federal court and listed between $500,000 and $1 million in liabilities and assets of $50,000 or less.
Its largest creditors holding unsecured claims are US Foods, which is owed $117,850, and Pulaski Bank, which has claims totaling $195,205.
Ginos became a franchisee of the restaurant chain that specializes in roast beef sandwiches in 2001. He plans to keep the five remaining restaurants open during the bankruptcy reorganization, according to his attorney, Robert Eggmann of Clayton-based law firm Desai Eggmann Mason.