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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6 comments:

  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.

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  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.

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

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  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.

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

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