Home Add to Favorite Contact Submit  
           26 February, 2021


    
Category:  Press » Food & Drinks

 

Bankruptcy Court Confirms Perkins & Marie Callender's Inc.'s Plan of Reorganization

Popularity:
         Views: 1691
2011-11-01 20:37:02     
Perkinsrestaurants.com

MEMPHIS, Tenn., Nov. 1, 2011 -- Perkins & Marie Callender's Inc. (the "Company"), a leading operator of family-dining and casual-dining restaurants, today announced that the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") has confirmed its second amended plan of reorganization (the "Plan"). Confirmation of the Plan clears the way for the Company to emerge from bankruptcy by the end of November in a significantly strengthened financial position.

Jay Trungale, the chief executive officer of the Company, said, "The Bankruptcy Court's confirmation of our Plan marks a significant step in our restructuring process. The Company will soon emerge from its financial and operational restructuring a leaner and stronger company, possessing a dramatically improved balance sheet. We are very proud of what we have been able to accomplish during the Company's relatively brief time in bankruptcy. And we look forward to announcing our emergence from Chapter 11 later this month."

Pursuant to the Plan, the Company's secured noteholders will receive a combination of new secured term loans and cash. The Company's unsecured noteholders and general unsecured creditors will receive either membership interests in the reorganized Company or cash and a percentage of the proceeds, if any, of certain potential avoidance actions. The Plan will become effective upon the satisfaction of all conditions to closing. Upon completion of its restructuring process, the Company will be majority controlled by private investment funds managed by Wayzata Investment Partners LLC, a Minnesota-based private equity firm.

This press release contains "forward-looking statements." These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology.

The company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. Some of the key factors that could cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements include the following: - competitive pressures and trends in the restaurant industry;
- prevailing prices and availability of food, supplies and labor;
- relationships with franchisees and financial health of franchisees;
- general economic conditions and demographic patterns;
- development and expansion plans; and
- statements covering business strategy.

Undue reliance should not be placed on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The company does not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.

Specialized in: Restaurant Coupons - Casual-dining Restaurants
URL: http://www.perkinsrestaurants.com
Print press release      Bookmark this page
Related Press releases 
Bento Lunch Box Company Educates Readers On Portion Control (Popularity: ): Raleigh, North Carolina ( press.abc-directory.com ) November 15, 2018 - Kangovou, a bento lunch box company, recently released a blog post describing the benefits of using bento lunch boxes for portion control. Bento lunch boxes, which have multiple compartments inside, can be an easy way to help eat healthier portions.Portion control has several major benefits, including weight loss, more balanced and nutritious meals, less binge eating, and fewer stomach complaints. ...
SK Laboratories Selects Ingredient Identity as Strategic Management Partner (Popularity: ): Santa Ana, CA - August 04, 2017 -- Ingredient Identity, a specialty business and regulatory management consulting firm to the Food and Dietary Supplement industries, was selected by SK Laboratories, Inc. to provide guidance and support for key corporate growth initiatives and milestones over the next five years.“We are extremely pleased to have been chosen by SK Laboratories to lead their strategic planning and implementation efforts across their existing and ...
Food Allergy Roundtable Refreshes Food Allergy Families (Popularity: ): Southbury, CT - November 05, 2014 -- According to the World Allergy Organization, food allergy in preschool children in developed countries is now as high as 10%. Papoose Publishing LLC has just published a new electronic guide, 'Food Allergy Roundtable,' which is a handbook designed to help families of these children. This electronic book provides food allergy support group leaders, members and food allergy families solutions using simple inductive reasoning. ...
David Christensen Named New President of Activz Whole-Food Nutrition (Popularity: ): Salt Lake City, UT - April 08, 2014 -- Frank Davis, founder of Activz Whole-Food Nutrition, is pleased to announce David Christensen as the new president of Activz Whole-Food Nutrition. The health and wellness industry is more than just a decade long career for David Christensen; as a whole-food nutrition advocate and an athlete, he walks the walk when it comes to living well. David brings great passion and experience ...
Naturally Splendid: Two Companies in One (Popularity: ): February 07, 2014 -- In life, two things you shouldn’t have to worry about: the quality of your food and the quality of an investment.Naturally Splendid “NSP” on the TSX Venture satisfies both of those concerns. With a national distribution deal now in place with Canada’s largest natural food distributor for its exceptional NATERA™ Hemp Superfood products and continued progress with strategic partner Boreal Technologies marketing plant based omega products, ...

Press release home snapshot 


Related Business 
Federal-Mogul (Popularity: ): Information about the Chapter 11 reorganization pending in the United States Bankruptcy Court in the District of Delaware.
Winthrop & Couchot, PC (Popularity: ): Newport Beach law law firm, representing clients for bankruptcy, corporate reorganization, liquidation, commercial litigation, and out-of-court workouts.
Bankruptcy Records (Popularity: ): Do not have a copy of your bankruptcy discharge papers from the court? No problems. You can possess an exact copy of the original bankruptcy documents. Your bankruptcy court records and documents are readily available after bankruptcy discharge and you can have it in your possession within minutes of your order.
Marie Callender's (Popularity: ): North American chain provides company history, job openings and restaurant locations.
Bankruptcy Discharge papers (Popularity: ): Get bankruptcy records, Bankruptcy discharge, creditor listing for states, county and federal bankruptcy papers complete file online. We are here to assist you in obtaining official copy of your bankruptcy records. Get Official bankruptcy court records same day. Select the customized package links below to order.
Get Bankruptcy Records (Popularity: ): Bankruptcy court records include your bankruptcy complete file (Voluntary petition) including creditor’s listing, reaffirmation agreement (apply case to case basis), and bankruptcy discharge order.
Advantage Appraisal Service (Popularity: ): San diego bankruptcy appraisal, san diego bankruptcy appraiser, real estate bankruptcy appraiser san diego, real estate bankruptcy appraisal san diego, bankruptcy and restructuring valuation, bankruptcy valuation san diego, chapter 7 bankruptcy appraiser, chapter 13 bankruptcy appraiser, reorganization bankruptcy appraisal, Temecula bankruptcy appraiser, la mesa bankruptcy appraiser, poway bankruptcy appraiser, Escondido bankruptcy appraiser, san marcos bankruptcy appraiser, vista bankruptcy appraiser, 4s ranch bankruptcy appraiser, fallbrook bankruptcy appraiser, valley center bankruptcy appraiser, ...
Find the top alternatives to chapter 13 bankruptcy (Popularity: ): there needs to be an effective way to get rid of debt while not going to individual bankruptcy court right? browse the good and bad points associated with chapter 13 and also bankruptcy alternate options before heading to courtroom.
Ruff & Cohen, PA (Popularity: ): Offering services for bankruptcy and business reorganization from offices in Gainesville and Jacksonville.
Long Beach Bankruptcy Attorney (Popularity: ): If you are in need of a Long Beach bankruptcy attorney, come to the Law Offices of Raymond J. Seo. Here we focus on liquidation and reorganization. Debt settlement and debt consolidation services will not stop the harassing calls, lawsuits, wage garnishments, negative credit reports, and more.