Sports bar files for Chapter 11 bankruptcy
Posted on Wednesday, February 5th, 2014 at 10:20 pm
Sports viewing bar Fox and Hound (F&H) English Pub & Grille recently filed for Chapter 11 bankruptcy, with one location closing its doors on Sunday, January 26.
In the bankruptcy filing, F&H Acquisition Corp. claimed a debt of $119 million while its last September’s revenue was $218.8 million, a five percent decline compared to 2012. Few restaurant sales and price surges have led the company to seek bankruptcy protection.
Firm spokesman Rick Van Warner said that the recent closure of F&H at Thruway has nothing to do with the bankruptcy filing and further stated that they decided not to renew the restaurant’s lease that had expired. F&H runs 101 restaurants in 27 states with an estimated 6,000 person workforce.
When facing financial hardships in business, sometimes filing for Chapter 11 bankruptcy is the best solution to get back on a strong financial footing. If your Raleigh business is struggling financially, the lawyers at the Bradford Law Offices, PLLC, can help you explore your options for addressing debt and moving forward. Call us at (919) 758-8879.