Popular steakhouse chain's owners file bankruptcy. Do closures loom?
USA Today • • business
Key Points:
- The parent company of 801 Chophouse, 801 Restaurant Group, filed for Chapter 11 bankruptcy on April 10 to restructure approximately $18.7 million in debt, primarily due to the closure of two concept restaurants, 801 Fish in Denver and 801 On Nicollet in Minneapolis.
- Despite the bankruptcy filing, the individual 801 Chophouse locations are not in bankruptcy and will continue operating normally, with no current plans for closures or disruptions to service.
- The 801 Restaurant Group emphasized that daily operations, including serving customers and paying staff, will continue as they negotiate with lenders and work on a long-term financial plan under U.S. bankruptcy law.
- Since its founding in 1993, 801 Restaurant Group has expanded 801 Chophouse to multiple cities across the U.S., and aside from the two closed concept restaurants, the remaining eight 801 Chophouse locations remain open and unaffected by the bankruptcy filing.
