Pizzeria Uno Files for Bankruptcy
(Reuters) - The parent of the Uno Chicago Grill pizza chain has filed for bankruptcy after sales fell and ingredient costs rose, and said it agreed on a restructuring that would give bondholders a controlling stake. Uno Restaurant Holdings Corp and more than 150 affiliates sought Chapter 11 protection from creditors on Wednesday with the U.S. bankruptcy court in Manhattan. The company said it had agreed with noteholders on a swap that will result in the conversion of $142 million of senior notes into a controlling equity stake. Private equity firm Centre Partners had taken a controlling stake in 2005.
20 January 2010•2 mins read
