The Corner Bakery Holding Co. on Feb. 22 filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware. The bankruptcy also includes CBC Restaurant Corp., which is wholly owned by Corner Bakery Holding Co., and CBC Cardco, Inc., which is wholly owned by CBC Restaurant Corp.
Corner Bakery has estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million, according to the court filing. The company operates at 140 locations in 19 states, including 44 in California and 33 in Texas, and the District of Columbia, according to the Corner Bakery website.
Dallas-based Corner Bakery Cafe did not respond to emails, and a phone number on the company website was out of service.
Corner Bakery Cafe began on a corner in downtown Chicago in 1991 by serving artisan bread and baked sweet goods. Sandwiches, soups, salads and scramblers were added to the menu later.
Pandya Restaurant Growth Brands, LLC acquired Corner Bakery Cafe from Roark Capital Partners in October 2020. Financial terms of the transaction were not disclosed. At that time Corner Bakery Cafe was a fast-casual restaurant chain serving kitchen-crafted breakfast, lunch, dinner and catering in 23 states and the District of Columbia.
The bankruptcy filing said Corner Bakery plans to employ Culhane Meadows PPLC as counsel, Hilco Trading LLC as financial adviser and investment banker, and Kurtzman Carson Consultants LLC as notice, claims and balloting agent and as administrative adviser.
