The family-dining brand is taking measures to be acquired while avoiding certain liabilities via the bankruptcy code.
Popular franchise Perkin’s could be undergoing changes, as the company is making moves to sell. With 356 units total, 239 are franchise locations. Although sales are down from the previous year, representatives claim that a potential bankruptcy filing is not indicative of the financial performance of the brands.
Company Spokeswoman Vivian Brooks told Nation’s Restaurant News in a recent interview, “While there is a possibility that a buyer may avail themselves to a legal/financial provision in the bankruptcy code that would allow them to acquire the company free of certain liabilities and obligation, it is important that a possible bankruptcy filing be viewed in this context rather than a financial necessity due to performance issues.”
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