Wausau Daily Herald:
It’s business as usual for Perkins restaurants in central Wisconsin despite the bankruptcy filing by the owner of the restaurant chain.
Perkins & Marie Callender’s Inc., owner of the Perkins and Marie Callender’s restaurant chains, filed for bankruptcy in a Delaware court Monday, citing a slump in sales because of a weak economic environment in its primary markets.
Documents filed in U.S. Bankruptcy Court in Delaware show the company listed $290 million in assets and $440.8 million in liabilities.
As part of its restructuring, the Tennessee-based company initially plans to close as many as 65 stores and cut 2,500 jobs — about 20 percent of its workforce.
The company has 160 owned and 314 franchised Perkins restaurants, and 85 owned and 37 franchised Marie Callender’s.