Piccadilly Restaurants files for Ch. 11 bankruptcy

Piccadilly Restaurants files for Ch. 11 bankruptcy

Piccadilly Restaurants LLC filed for Chapter 11 bankruptcy protection this week, saying restructuring talks with the owner of its debt had broken down.

The 80-unit Baton Rouge, La.-based cafeteria and onsite operator said Wednesday it filed its bankruptcy petition after it learned of what it called an “aggressive legal maneuver” by debt holder Atalaya Capital Management of New York.

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