Old Country Buffet’s Parent, Fresh Acquisitions, Files for Chapter 11 Bankruptcy in Northern District of Texas
Old Country Buffet’s parent corporation, Fresh Acquisitions, LLC, filed for Chapter 11 bankruptcy protection on Tuesday, April 20, 2021, in the Northern District of Texas, docket # 21-30721. The San Antonio-based company operates six (6) restaurant chains in 27 states – Ryan’s, Old Country Buffet, Tahoe Joe’s Famous Steakhouse, Fire Mountain, Furr’s Fresh Buffet, and HomeTown Buffet. According to Restaurant Business, this is the fifth time that the company’s various chains have filed for bankruptcy protection since 2008.
The company has been hit severely during the pandemic, with loss of sales due to occupancy restrictions and restrictions on family-style buffets. Recently, the largest franchisee of Golden Corral filed for Chapter 11 bankruptcy.
According to CNN, the company hopes to preserve two (2) of the six (6) brands – Tahoe Joe’s Famous Steakhouse and Furr’s. It is unknown whether the remaining four buffet-style brands will remain or close up shop.