Recession Tosses Uno Chicago Grill Into Ch. 11

Law360, New York (January 20, 2010, 2:48 PM EST) -- The company behind the casual dining chain Uno Chicago Grill filed for bankruptcy Wednesday, blaming its fall on a combination of loan obligations and a sharp drop in consumer spending.

In an affidavit filed with the Chapter 11 petition on Wednesday, Uno Restaurant Holdings Corp. Chief Financial Officer Louis Psallidas said the company had long-term debt of $171.8 million and assets of $144.6 million.

Though the company implemented a number of cost-cutting measures and tried to upgrade the quality of its dining experience, Uno was hit...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.