3 more casual chains file for bankruptcy

bankruptcy papers

The company operating the Champps, Fox & Hound and Bailey’s casual chains has filed for Chapter 11 bankruptcy protection, marking the second time in less than three years the brands have sought relief from creditors.

The brands, which include 85 restaurants in total, are owned by Last Call Guarantor. The prior owner, the private-equity giant Cerberus Capital Management, had purchased the operations out of an earlier bankruptcy in 2014.

Last Call's biggest brand was Fox & Hound, with 48 sports bars.

The chain’s petition for protection from creditors owed more than $100 million is the latest indication of a shakeout underway in casual dining. Logan’s Roadhouse filed for bankruptcy earlier this month, and Fired Up, the parent of the Johnny Carino’s chain, sought protection from creditors in July.

The sector has been suffering from an erosion of traffic and rampant discounting.

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