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A number of Souplantation and Sweet Tomatoes locations will soon be closing. According to a <a href="http://nrn.com/finance/souplantation-sweet-tomatoes-owner-files-bankruptcy?utm_source=1851franchise.com&utm_medium=article&utm_campaign=nations-restaurant-news-souplantation-sweet-tomatoes-owner-files-for-bankruptcy-6157" target="_blank" rel="nofollow" target="_blank">recent Nation&rsquo;s Restaurant News article</a>, the owner of both restaurants, Garden Fresh Restaurant Corp., filed for bankruptcy on Monday.

Sun Capital Partners Inc., who owns the San Diego-based company, reported between&nbsp;$1 million to $10 million in both assets and also liabilities. Garden Fresh will be closing around 20 to 30 restaurants that are currently underperforming. A majority of the company&rsquo;s 124 units are in the Southwest and on the West Coast.

&ldquo;By improving our capital structure through this restructuring, we&rsquo;ll be able to accelerate the changes underway to refresh our restaurants and build a strong future,&rdquo; says John Morberg, Garden Fresh CEO.

Since 2015, Garden Fresh has become the ninth restaurant operator to file for federal debt protection and follows a decline in same-store sales that has made a big impact on the restaurant industry in the last year.

Check out the <a href="http://nrn.com/finance/souplantation-sweet-tomatoes-owner-files-bankruptcy?utm_source=1851franchise.com&utm_medium=article&utm_campaign=nations-restaurant-news-souplantation-sweet-tomatoes-owner-files-for-bankruptcy-6157" target="_blank" rel="nofollow" target="_blank">full article here</a>.

Nation’s Restaurant News: Souplantation, Sweet Tomatoes Owner Files For Bankruptcy

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Garden Fresh Restaurant Corp. joins the list of restaurant operators that have declared bankruptcy in the last year. 

nations-restaurant-news-souplantation-sweet-tomatoes-owner-files-for-bankruptcy

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