True Food Kitchen, the Scottsdale-based restaurant chain founded by Sam Fox and eventually spun off from Fox Restaurant Concepts into its own company, filed for Chapter 11 bankruptcy protection on October 4.
In documents filed with the U.S. Bankruptcy Court for the Southern District of Texas, True Food said its debts totaled approximately $42.1 million as of October 4. A total of nine companies under the True Food umbrella were part of the Chapter 11 filing.
As part of the company’s restructuring plan, True Food plans to close 12 of its restaurants, while the remaining 34 restaurants across 14 states will continue to operate as normal. The company also operates a test kitchen at its headquarters location at 8605 E. Raintree Drive.
Read the rest of this story in the Business Journal.
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