The parent company of Bennett’s Bar-B-Que has filed for Chapter 11 bankruptcy protection as it attempts to reorganize.
The filing earlier this month in U.S. Bankruptcy Court in Denver was made by Famous American Barbeque LLC. It lists Boise, Idaho-based AMRESCO Commercial Finance LLC as its largest lender with $3.7 million in unpaid debt.
The Denver-based barbecue chain closed locations in Lone Tree and Colorado Springs two days before it filed the bankruptcy petition. Two restaurants remain open in Denver and Arvada, as well as two franchise outlets in Tennessee and one in North Carolina.
Lee Kutner, the chain’s bankruptcy attorney, said the filing resulted from “poor operating results” and the two closed locations. He described the firm’s prospects for financial reorganization as “excellent.”
