By Guest Submission,
Waterloo Restaurant Ventures, operator of the Macaroni Grill restaurants in Portland, Seattle, and San Francisco, filed for bankruptcy on March 8. The corporation is based in Vancouver but filed in North Texas; it operates 10 Macaroni Grills, some of which are in Portland, Hillsboro, Tualatin, and Clackamas, Ore. Currently, it owns the right to develop twenty more of the restaurants, but its venture into Chapter 11 indicates that such development is unlikely in the near future.
Waterloo Restaurant Ventures is of medium size; its filing indicates that it has between 200 and 999 creditors and that its assets and liabilities total somewhere in the $10-50 million range.
For more, see more here.
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