What to Know
- The parent company of several Roscoe's House of Chicken and Waffles restaurants emerged from bankruptcy this week.
- East Coast Foods Inc. filed for Chapter 11 bankruptcy protection in March 2016.
- East Coast Foods estimated that it had debts between $10 million and $50 million with assets of less than $50,000.
The parent company of several Roscoe's House of Chicken and Waffles restaurants emerged from bankruptcy this week when a Los Angeles judge confirmed a modified confirmation plan to repay creditors, it was announced Thursday.
No further substantive court hearings are anticipated in the case. East Coast Foods Inc. filed for Chapter 11 bankruptcy protection in March 2016. The filing came months after the company was ordered to pay $3.2 million to a former employee who won a wrongful termination and discrimination lawsuit against the soul food chain.
In filings with U.S. Bankruptcy Court, East Coast Foods estimated that it had debts between $10 million and $50 million with assets of less than $50,000. A 363-page plan filed earlier this year outlined the restaurant chain's plan to emerge from bankruptcy.
There are seven Roscoe's locations in the Southland -- in Hollywood, Long Beach, Pasadena, West Los Angeles, Inglewood, Los Angeles and Anaheim. Plans to open a San Diego branch were put on hold last year.
