11 Hrs
Source:
New York Post
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Source: New York Post
11 HrsNew York Post
Source: New York Post
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Cerca Trova Restaurant Group, a San Diego-based Outback Steakhouse franchise operator, filed for Chapter 11 bankruptcy protection in Delaware, citing $449 million in debt and rising labor and food costs alongside declining customer traffic. The company operates 61 restaurants across five states, most of them in California, where more than half its employees work. Outback parent Bloomin’ Brands is the leading bidder to acquire the operator’s assets for $26.3 million and has offered up to $5.5 million in financing during the proceedings.
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