Round Table Pizza To Exit Ch. 11

""NRN.com reports, “Round Table Pizza is expected to emerge from bankruptcy this month following approval of a reorganization plan that leaves the full-service pizza chain in the hands of its employees.”

“Concord, Calif.-based Round Table Pizza, which has been 100-percent employee owned for more than two decades, filed Chapter 11 in February, saying the recession left the company unable to meet or renegotiate terms on a 2007 credit facility. Late last week, however, a bankruptcy judge in Northern California approved a reorganization plan that will allow the chain to exit Chapter 11, maintaining ownership under the existing employee stock ownership plan trust. The official exit from bankruptcy will likely occur before Christmas, company officials said.”

Read more: http://nrn.com/article/round-table-pizza-exit-ch-11#ixzz1gWp9jYLv