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...
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