Papa Gino's, D'Angelo Sale Approved By Bankruptcy Court

DEDHAM, MA — A bankruptcy court approved the sale of Papa Gino's and D'Angelo Grilled Sandwiches to a private equity firm.

The Dedham-based company will be run by Wynnchurch Capital after the $20 million deal, which is expected to be finalized by the end of the month, Turn to 10 News reported,

The announcement comes months after Papa Gino’s Holdings Corp. (PGHC) filed for bankruptcy a day after closing 95 stores and laying off over 1,000 employees. The sale was approved in a Delaware bankruptcy court on Wednesday.

“Wynnchurch’s investment will enable us to renew our legacy as a community-focused restaurant company, bringing back menu favorites, serving great-tasting, fresh, high quality food, and delivering an outstanding customer experience,” PGHC chief financial officer Corey Wendland said in a statement to the Boston Herald.

The sale includes 96 Papa Gino’s and 45 D’Angelo restaurants throughout Massachusetts, New Hampshire, Rhode Island and Connecticut. There are still 34 restaurants under franchise ownership and they will remain as such, but Wynnchurch Capital will be there new franchiser, the Boston Herald reported.

Image via Shutterstock