Corner Bakery Cafe in Dallas Files for Chapter 11 Bankruptcy Protection

National restaurant chain Corner Bakery has filed for bankruptcy. The company is headquartered in Dallasfiled for Chapter 11 protection in Delaware Bankruptcy Court on February 22. according to Nation’s Restaurant News.

October 2020 The corner bakery was bought Philadelphia-based Pandya Restaurant Growth Brands, which also owns the Boston Market. At the time, Corner Bakery’s portfolio included 175 locations. The company’s website shows that there are currently 140 offices in 20 states.

Frank Paci, CEO of Corner Bakery at the time of its sale, said the acquisition gave the company “access to the resources we need to continue doing business in this challenging environment.” He said the company “is now well positioned to succeed in the future at a time of unprecedented turmoil for our industry.”

According to the restaurant business, Corner Bakery defaulted on its loans last year after struggling with weakening sales and output declines that began before the pandemic. The pandemic exacerbated these problems, as office workers made up a significant portion of the client base.

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