In a prepared statement, Roadhouse president/CEO Ayman Sabi blames Orlando-based CNL Restaurant Properties Inc. for its involuntary filing.
"The company already has successfully negotiated with most of its creditors to restructure and repay its debts," Sabi says. But "one group of unsecured creditors, all affiliated with CNL, refused to settle out of court of court for past-due invoices, thereby forcing Roadhouse Grill into Chapter 11."
Sabi says the company was profitable in January and February and continues to operate daily with a complete staff.
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