Bankruptcy Reorganization Chapter 11

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Bankruptcy Reorganization Chapter 11

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May 19, 2008

Steakhouse Partners Inc. files for Chapter 11

Steakhouse Partners Inc. filed for chapter 11 bankruptcy protection on May 15th at the United States Bankruptcy Court for the Southern District of California.  The San Diego based restaurant company's petition lists over $16 million and assets and about $26 million in debts.  On the same day, Paragon Steakhouse Restaurants, Inc. and Paragon of Michigan, Inc. also filed petitions under chapter 11.

The debtors are engaged in the operation of 21 steakhouse restaurants in Arizona, California, Indiana, Michigan, North Carolina, Ohio and Utah. 


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