Business & Tech
Old Country Buffet Files For Bankruptcy
The restaurant was one of several owned by Ovation Brands to file for Chapter 11 bankruptcy Monday.
WATERTOWN, MA - Several buffet-style restaurant chains owned by Ovation Brands are filing for Chapter 11 bankruptcy.
Old Country Buffet, HomeTown Buffet, Ryan’s, Tahoe Joe’s and Fire Mountain all declared bankruptcy Monday, Reuters reports, potentially impacting 328 locations nationwide.
This is bad news for local fans of Old Country Buffet, which has a location in Watertown at 550 Arsenal St.
Find out what's happening in Watertownfor free with the latest updates from Patch.
Ovation last filed for bankruptcy four years ago, shedding more than 100 if its 494 U.S. restaurants.
Over the weekend, employees at eight Ryan's locations showed up to work to find that the restaurants had been closed.
Find out what's happening in Watertownfor free with the latest updates from Patch.
2016 has been a rough year so far for Ovation, which saw the closure of 74 branches by parent company Food Management Partners in February.
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