Business & Tech
Old Country Buffet Declares Bankruptcy
Fridley's is one of 14 restaurants in MN; 81 to close nationally.
For the second time in four years, Eagan-based Buffets, Inc., the operator of 494 restaurants across the country, has filed for Chapter 11 bankruptcy.
As part of its bankruptcy plans, announced on Wednesday, the company plans to close 81 "underperforming" restaurants, according to an article in the Minneapolis/St. Paul Business Journal.
The company owns the Old Country Buffet, HomeTown Buffet, Ryan's, Granny's Buffet and Fire Mountain brands, and currently operates 14 restaurants in Minnesota—including Fridley's .
Buffets, Inc. emerged from its last bankruptcy in 2009. Earlier this year, the company moved to a smaller facility in Eagan; its former headquarters in Eagan was auctioned off and purchased by Prime Therapeutics.
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