Author Topic: GIORANDOS FILES CHAPTER 11 (bankruptcy protection)  (Read 1385 times)

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Offline Mick.Chicago

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GIORANDOS FILES CHAPTER 11 (bankruptcy protection)
« on: February 18, 2011, 08:41:46 PM »
I blame expansion.

Giordano’s — a name synonymous with Chicago-style pizza — filed Wednesday for Chapter 11 bankruptcy protection.

Judge Eugene R. Wedoff granted the company’s request to maintain its bank accounts and operations in order to limit disruptions at the popular operation.

Giordano’s operates six company-owned stores in the Chicago area, four joint-venture stores and 35 franchised locations, according to a petition Giordano’s Enterprises filed in U.S. Bankruptcy Court in Chicago. Locations include restaurants in Plainfield, Joliet and south Naperville.

It also operates Americana Foods Inc., a commissary business responsible for most of the food products bought by the Illinois locations. Its real estate arm, Randolph Partners LP, owns 12 restaurant buildings leased to four of the company-owned locations, two of the joint-venture locations and six of the franchised locations.

Owners John and Eva Apostolou could not be reached for comment.

The Apostolous bought the company in 1988 and began expanding to Florida in 2005.

Offline Pete-zza

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Re: GIORANDOS FILES CHAPTER 11 (bankruptcy protection)
« Reply #1 on: October 20, 2011, 10:58:41 AM »