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Ponca City’s Perkins Restaurant not affected by parent company’s sale

Beverly Bryant - August 6, 2019 11:27 am

Regional Manager Amber Clark with Perkins Restaurants said Tuesday morning the Ponca City restaurant is not affected by a Chapter 11 restructuring by its parent company.

Perkins and Marie Callender’s announced Monday that the company had executed an asset purchase agreement with Perkins Group LLC for the sale of the Perkins’ business and a segment of its Foxtail bakery business.

In order to facilitate the sale, the company has voluntarily commenced Chapter 11 proceedings under the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the District of Delaware.

The Company has filed a series of motions that, subject to Court approval, will allow it to maintain its
usual employee compensation and benefit programs, make payments for goods and services in the
normal course, and otherwise operate its business as usual.

Clark, located in Kansas City, said Ponca City’s restaurant is not affected and “it will be business as usual” for the local restaurant.

As part of the restructuring process, on Sunday the company closed 10 Perkins and 19 Marie
Callender’s underperforming locations. All remaining restaurants will be open and operating as usual.

Founded in 1958, the Perkins system consists of 342 Perkins Restaurants in 32 states and Canada
which includes 101 company owned and operated locations and 241 franchised units. The Company
also has a baked goods manufacturing division operating under the name of Foxtail Foods which
manufactures pies, pancake mixes, cookie dough, and muffin batter for in-store bakeries and third-party
customers.

 

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