801 Restaurant Group Declares Bankruptcy After Shuttering Denver and Minneapolis Locations
A Kansas-based restaurant operator has filed for Chapter 11 reorganization in federal court. 801 Restaurant Group LLC made the filing last Friday in U.S. Bankruptcy Court in Kansas, the company confirmed to Filmogaz.com.
Background and scope
The group runs steak and seafood concepts under several brands. Those include 801 Chophouse, 801 Fish and 801 Local.
The business maintains locations across Kansas, Missouri, Minnesota, Colorado, Virginia, Nebraska and Iowa.
Why the bankruptcy filing
Leadership said the Chapter 11 is focused on restructuring specific liabilities. The company cited guarantees tied to certain owned entities.
Two units affected were 801 Fish in downtown Denver and 801 On Nicollet in Minneapolis. Both of those locations have closed.
The court paperwork shows total liabilities of roughly $18.7 million.
Impact on operating restaurants
Company statements emphasize that the restaurant-operating entities themselves are not in bankruptcy. Those individual companies will continue daily operations.
The filing is not expected to disrupt remaining sites. Management says most restaurants will stay open throughout the reorganization process.
Open locations
- 801 Chophouse: Denver, Des Moines, Omaha, Kansas City, Leawood, St. Louis, Minneapolis, Tysons Corner (DC area).
- 801 Fish: St. Louis.
The Des Moines chophouse was the original location. It opened in 1993.
Process and outlook
The Chapter 11 filing allows the parent group to renegotiate and restructure obligations. The aim is to resolve liabilities while preserving operating restaurants.
Observers will watch the bankruptcy court proceedings to see how creditors and the company reach a plan.
801 Restaurant Group declares Chapter 11 bankruptcy amid closures in Denver and Minneapolis. The parent company says operating units remain largely unaffected.
