Perkins and Marie Callender’s Inc. announced the close of 58 Perkins and Marie Callender’s stores Monday as part of a major financial restructuring plan. The company has filed for Chapter 11 Bankruptcy and is working with share holders to restructure the business.
The company claims a weak economy and an increase cost in materials led to the filing of bankruptcy.
Those who arrived at stores in the Valley on Monday found doors locked with signs announcing the close.
In a statement Monday Jay Trungale, chief executive officer of Perkins said, “this initial round of store closings was arrived at following store level analyses of historical financial performance,local market conditions, and cost structure. The process to indentify underperforming locations remains ongoing and will continue throughout the chapter 11 case.”
The company will still have locations in other states.