The parent company of a high-end steakhouse has filed for Chapter 11 bankruptcy.
801 Restaurant Group filed for bankruptcy protection on April 10 to restructure its debt, USA Today reported.
The filing was entered in the Kansas Bankruptcy Court.
But the company said the 801 Chophouse restaurants themselves are not part of the filing.
“The companies that own and operate the restaurants are not in bankruptcy and there are no plans or need for them to file bankruptcy. The individual restaurant companies operating successfully are not impacted by the 801 Restaurant Group’s Chapter 11 filing,” the group told USA Today in an emailed statement.
As the Des Moines Register explained, Chapter 11 “is frequently used as a pressure valve — buying time for companies facing rising costs, tightening credit and uneven post-pandemic dining patterns."
The filing lists the company’s liabilities at about $18.7 million.
In addition to the 801 Chophouse chain, the company also owns 801 Fish and 801 Local restaurants.
Two locations closed prior to the filing, but the company said in a statement, “Except for the two closed restaurants, Chapter 11 is not expected to have any impact on the remaining locations.”
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