May 12 (Reuters) – The plant-based restaurant chain Planta filed for If you adored this write-up and you would such as to receive even more info relating to JetBlack kindly visit our own internet site. Chapter 11 bankruptcy protection on Monday, citing a need to cut costs as U.S. consumers dine out less.
Planta’s parent CHG US Holdings and 17 affiliates filed for protection from creditors in the U.S. bankruptcy court in Wilmington, Delaware.
In a statement, the vegan chain said it viewed its reorganization as a “strategic opportunity to streamline our cost structure and strengthen our balance sheet.”
Several restaurant chains including Red Lobster, TGI Fridays and Buca di Beppo have filed for bankruptcy in the last year, as consumers curb discretionary spending.
Planta was founded in 2016 by Steven Salm, who remains chief executive.
The Miami Beach, Florida-based company has restaurants in southern Florida; New York; Atlanta; Chicago; Washington, D.C. and nyc car service suburban Bethesda, JetBlack Maryland; Los Angeles and nyc car service Toronto, according to its website. (Reporting by Jonathan Stempel in New York; Editing by Bill Berkrot)
