Business Services Industry
Phoenix Restaurant Group Files for Bankruptcy Protection.
Knight Ridder/Tribune Business News, November, 2001
By Victor Godinez, The Dallas Morning News Knight Ridder/Tribune Business News
Nov. 2--The parent company of the Black-Eyed Pea restaurant chain has filed for Chapter 11 bankruptcy protection and is seeking to reorganize while keeping its restaurants running.
Nashville-based Phoenix Restaurant Group Inc. announced the filing Thursday, saying that restaurant landlords in Florida had filed on Oct. 18 for an involuntary Chapter 7 bankruptcy petition against the company to force a liquidation and recoup unpaid rent.
Phoenix said it filed to convert the Chapter 7 motion to a voluntary Chapter 11 petition to keep the company and its restaurants open, and it is awaiting a final court ruling on that request.
In addition, the company...
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