Saturday, September 11, 2010

Claim Jumper Restaurants Files for Bankruptcy With Plan to Sell Business

Claim Jumper Restaurants LLC, the operator of a restaurant chain in California and seven other states, sought bankruptcy protection with a plan to sell the business to one of its investors.
The Irvine, California-based company listed assets of as much as $100 million and debt of as much as $500 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Private Capital Partners, an affiliate of Los Angeles-based Canyon Capital Advisors LLC, agreed to buy virtually all of the assets, Claim Jumper said today in a statement. Claim Jumper expects to leave bankruptcy in 60 to 75 days with no debt. The company said it filed a motion to set up an asset auction.

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  1. Claim Jumper was always an interesting restaurant. Great food, but so plentiful it was obscene. The portions are beyond super-sized. I could never eat my whole meal it was so big. Their food costs must be so out of whack. Not surprising they are having trouble.

  2. don't forget the wonderful high labor costs in California. Also, the electric, taxes, and all the other B.S. it takes to run a business in California. Liberals just don't get it, if you make costs to high, it just isn't worth it. Glad I moved out of there 5 years ago.

  3. Wish we were loosing 40,000 police. We don't need those corporate gangbangers.

  4. I do not understand this companies problems .
    After all 500 million dollars is only half trillion $ .

    Some insider will buy it all for a few cents in the dollars and casino capitalism will move on after a bit of creative destruction.

  5. Sorry ,about the above comment
    half a trillion should read half a billion $


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