Law360, Wilmington (December 16, 2013, 7:03 PM EST) -- F&H Acquisition Corp., parent of the Fox & Hound and Champps chains, sought protection in Delaware bankruptcy court Sunday and looks to sell its restaurants as going concerns in Chapter 11.
The Kansas-based company, which operates 101 restaurants across the country, had been hit in recent years by a combination of declining sales and rising costs that bit into profits and ultimately led to defaults under its secured credit agreements, according to a declaration by President and Chief Financial Officer James Zielke.
Joined in bankruptcy by 41 affiliates, F&H Acquisition listed debts totaling about $119.4 million, according to the declaration....
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