New Delaware Chapter 11 Filing – RUI Holding Corp.

Save as PDF

RUI Holding Corp. (a/k/a Restaurants Unlimited), along with three of its affiliates, has filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11509-KBO). According to the accompanying Declaration, the Debtors are the owners and operators of 35 restaurants in 6 states, primarily along the west coast. The Debtors cite certain changes to wage laws in their primary geographic locations, coupled with two expansion decisions that restricted their liquidity, as the principal factors which led to their Chapter 11 filing. The Debtors report that they currently have less than $150,000 in cash on hand, total assets of $50-100 million and liabilities of $50-100 million. The cases have been assigned to the Honorable Karen B. Owens.

For more information regarding this matter, please contact Norman L. Pernick or G. David Dean.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

Join Our Mailing List

Stay up to date with the latest insights, events, and more

Check all areas of law you are interested in receiving e-newsletters and alerts about:(Required)
This field is for validation purposes and should be left unchanged.

Our Practices



Our Industries