Bankruptcies for restaurants a sign of times-Mobile Press Register

Posted on October 12, 2009. Filed under: Uncategorized |

MOBILE, Ala. — Bankruptcy. It’s what’s for dinner at some local restaurants.

    Four prominent eateries in Mobile and Baldwin counties have filed for Chapter 11 reorganization since late June, though all continue to operate.

    Financial distress in the restaurant industry is far from limited to this quartet — The Bakery Café, Captain’s Table, French Market Café and Old Bay Steamer. Owners of the French Market and Old Bay Steamer say they expect to emerge from bankruptcy, while a new owner is lined up to take over the Bakery’s name and space, but not the old company’s debt. Captain’s Table owner John Word could not be reached for comment.

    Restaurants close all the time, but today’s economy may be pulling more of them under. …

For the full story:

http://blog.al.com/live/2009/10/bankruptcies_for_restaurants_a.html

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