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Chicago’s Giordano’s Enterprises Inc., home of the “world famous” deep-dish pizza, filed for bankruptcy Wednesday.
According to documents served up Wednesday in U.S. Bankruptcy Court in Chicago, Giordano’s sought Chapter 11 protection along with 32 affiliates. In court papers, Giordano’s said it has “an urgent and immediate need for cash to continue to operate.”
Giordano’s, where every pizza “is a slice of heaven,” owes more than $45 million to lender Fifth Third Bank. Get the full story »
Yum Brands Inc. said it’s shopping for a buyer for its Long John Silver’s and A&W All-American Food Restaurants to focus on international expansion.
The company, which also operates Taco Bell, Pizza Hut and KFC, said the chains don’t fit in with its long-term growth strategy, and it doesn’t expect the sale to have a material effect on its ongoing earnings or cash flow. Get the full story »
