Casa Bonita parent company files for chapter 11

By: Associated Press Email
By: Associated Press Email

Denver (AP) -- The parent company of Denver's Casa Bonita and
other restaurants has filed for chapter 11 bankruptcy protection
but says it will continue its restaurant operations. Scottsdale, Ariz.-based Star Buffet Inc. operates restaurants in 15 states. The restaurants include Casa Bonita, whose cliff divers and other entertainment were depicted in an episode of "South Park." The Denver Post reports Star Buffet filed for bankruptcy protection after it was unable to agree on terms for the payment of a $723,489 judgment against the company. The company plans to appeal the judgment. Star Buffet says it is profitable but hasn't been able to refinance mortgage obligations or a secured credit facility due in January. Its consolidated balance sheet as of Aug. 15 showed assets of $22.4 million and liabilities of $21.4 million.

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  • by Nun Location: Grand Valley on Oct 5, 2011 at 10:16 AM
    Banks bailed out by taxpayers are not lending. This country will be lucky to survice another year of the current administrations policies.
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