The owner of 15 Church’s Chicken fast-food locations in the Orlando and Tampa Bay areas is seeking bankruptcy court protection.
Quick Service Foods-Tampa Inc. filed a Chapter 11 bankruptcy petition Feb. 29 in the Florida Middle District, claiming assets between $10 million and $50 million and liabilities of $10 million or less. The company employs about 320 people.
Its major secured creditor is GE Capital Franchise Finance Corp., owed about $5.1 million.
Quick Service Foods, owned by Ford Reihani, cites the rising costs of fuel and slumping 2007 sales of $11 million – down 10% from the previous year – as reasons for the reorganization, according to court records.
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Owner Of Orlando Church’s Chicken Files For Bankruptcy
March 6, 2008 by Cris | 0 Comments
In Franchises, Negatives and/or Positives, News, Restaurants
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