Chevys Files for Chapter 11
From Associated Press
Chevys Inc., the parent company of Chevys Fresh Mex restaurants and Fuzio Universal Pasta, filed for Chapter 11 bankruptcy protection Friday, after an aborted acquisition deal.
Chevys has suffered from the poor performance of its 37 Rio Bravo restaurants, which will be shuttered, Chief Executive Ron Maccarone said.
Emeryville, Calif.-based Chevys’ future took a turn for the worse late last month, when Dallas-based Consolidated Restaurant Operations Inc. backed out of a deal to acquire Chevys.
The closure of the Rio Bravo chain will leave Chevys with 126 restaurants -- Chevys and Fuzio Universal Pasta -- in 16 states.
