Perkins Parent Seeks Ch. 11 Amid Sales Plunge

Law360, New York (June 13, 2011, 11:56 AM EDT) -- Perkins & Marie Callender's Inc., a privately held operator of family restaurant chains, filed for bankruptcy protection Monday in Delaware amid plummeting sales attributed to sluggish consumer spending and increased commodity costs.

The company, based in Memphis, Tenn., and owned by New York-based investment firm Castle Harlan Inc., asked U.S. Bankruptcy Judge Kevin Gross for a reservation in bankruptcy court for a total of 11 affiliated debtors listing assets of $290 million and debts of $441 million.

"Sales and traffic trends at both Perkins and Marie...
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