Vista Eyecare Files for Chapter 11 Protection

Vista Eyecare Inc., the second-largest U.S. chain of eyeglass stores, filed for Chapter 11 protection from its creditors to deal with mounting debts and slumping sales. In a petition filed in U.S. Bankruptcy Court in Atlanta, the Lawrenceville, Ga.-based company listed $220.9 million in assets and $192.7 million in debts. “We expect to emerge from bankruptcy as quickly as possible [with] a smaller and more profitable base of free-standing locations,” Chief Executive James Krause said. Vista has 900 outlets. Trading was halted at 75 cents on Nasdaq.