Community Corner
Village Inn Parent Company Files For Bankruptcy Protection, Closes 33 Stores
Another chain is closing stores in Colorado.
DENVER (CBS4) – Village Inn’s parent company, American Blue Ribbon Holdings, LLC., filed a petition for Chapter 11 reorganization Monday. The company also announced it will close 33 stores, several of which are in Colorado. The store closures will result in a workforce reduction of approximately 1,100 people, according to the petition filed with the U.S. Bankruptcy Court of Delaware.
“The company believes the reorganization will facilitate the company’s Village Inn and Bakers Square restaurant brands evolution to a healthy core of restaurants and support an approach to the brands that is most beneficial for all stakeholders,” said Rob Hoskins, spokesperson for American Blue Ribbon Holdings. “As part of the reorganization, the company will explore a variety of strategic and structural initiatives to best position the company for success in the future.”
A former Village Inn restaurant sits vacant off of Colorado Boulevard and Interstate 25. (credit: CBS)