Scottsdale, Ariz. — True Food Kitchen, a wellness-driven casual restaurant chain, has voluntarily filed for Chapter 11 bankruptcy protections in the U.S. Bankruptcy Court for the Southern District of Texas. As part of its restructuring, the chain has closed 12 restaurants. Its remaining 34 locations, which span 14 states, remain in operation. According to the press release, True Food Kitchen will pursue a court-supervised sale and will identify a long-term partner with the resources and alignment to support the chain’s future.
True Food Kitchen also shared that it would use the restructuring process to improve its financial foundation, restaurant footprint and cost structure, as well as to accelerate current operational improvements.
Reed Smith is serving as legal counsel to True Food Kitchen and Teneo is serving as financial advisor and strategic communications advisor. SOLIC Capital is serving as investment banker, while Gordon Brothers is serving as real estate advisor.