SAN FRANCISCO (KRON) – Bakery and restaurant chain Le Pain Quotidien has filed for Chapter 11 bankruptcy protection amid the coronavirus pandemic, according to a report.
The chain, which has locations in California, New York City, the Midwest, and elsewhere in the US, is proposing a sale to another restaurant company – Aurify Brands – in a deal that would allow at least 35 of its nearly 100 US restaurants to reopen, USA Today reports.
All other stores are at risk of being permanently closed, according to a court filing.
Le Pain joins the growing list of businesses filing for bankruptcy amid the pandemic including Tuesday Morning, Neiman Marcus, JC Penney, and J. Crew.
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