Deep In Debt, Pizza Chain Giordano's Enters Ch. 11

Law360, New York (February 18, 2011, 4:55 PM EST) -- Chicago pizza maker Giordano’s Enterprises Inc. has filed for Chapter 11 bankruptcy along with 32 of its affiliates, saying that it needs an immediate infusion of cash in order to continue operating.

Judge Eugene R. Wedoff joined the 33 cases on Thursday in the U.S. Bankruptcy Court for the Northern District of Illinois, a day after the company ducked under Chapter 11 protection.

The judge approved a debtor-in-possession financing agreement between Giordano’s and Fifth Third Bank that will give the restaurant company the cash it needs...
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