RETAILING

From Times Staff and Wire Reports

Restaurant Operator Files for Bankruptcy Protection: Restaurant Enterprises Group, operator of the El Torito, Coco's and Carrows chains, said its filing for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware was part of an ongoing recapitalization and was supported by all of the Irvine-based restaurant company's creditors. REG listed $374.5 million in assets and $564.7 million in liabilities, including $379.9 million owed to secured creditors such as W.R. Grace & Co. "This filing should have no effect whatsoever on our restaurant operations," said Michael Casey, REG's chief financial officer.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
63°