"We have a committed buyer for our continuing locations, and we will continue to market our assets as a going concern to maximize value,"
"This decision was made to strengthen our financial foundation by reducing liabilities - including closing certain locations - to ensure business continuity and to position the Company for long-term success and growth."
"We are confident this step will allow us to emerge stronger and better positioned to serve guests and stakeholders in the future,"
Pinstripes Holding, Inc. filed for Chapter 11 bankruptcy and plans to close 10 of its 18 locations while preparing to sell the business to new ownership. The company stated it has a committed buyer for continuing locations and will market assets as a going concern to maximize value. The Walnut Creek Pinstripes at Broadway Plaza permanently closed less than one year after opening last November following repeated delays. The Walnut Creek site was the chain's second Bay Area location after San Mateo, which will remain open and accept Walnut Creek gift cards. Pinstripes combined Italian-American dining with bowling, bocce and large party space.
Read at The Mercury News
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