000117 Checkers Unit Files Chapter 7 BankruptcyJanuary 13, 2000Clearwater, FL - Checkers Drive-In Restaurants Inc. said that its Checkers of Chicago subsidiary filed for Chapter 7 bankruptcy, which means that the subsidiary's assets will be distributed to creditors. Checkers of Chicago operated eight restaurants as a general partner of certain limited partnerships and three restaurants that it owned. Checkers, which operates nearly 1,000 Checkers and Rally's hamburger restaurants, expects that a trustee will be appointed to distribute the subsidiary's assets to creditors. The restaurants outside of Checkers of Chicago are not affected by the bankruptcy filing and will remain open. Checkers and its franchisees own approximately 469 Checkers operating primarily in the Southeast and approximately 465 Rally's operating primarily in the Midwest.
E-mail: sflanagan@sprintmail.com |
