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Acknowledging its taking a tremendous risk, fast-casual chain Cosi asked a judge this week to dismiss its bankruptcy case so it can apply for the Restaurant Revitalization Funda plan approved Tuesday by the court.
Early this month, Cosi asked a U.S. Bankruptcy Court judge in Delaware to speed up its bankruptcy proceedings so it could take advantage of up to $10 million in federal aid before the funds ran out. Bankrupt restaurants are not eligible for the funding.
But the Boston-based soup and sandwich chain said in court documents that it decided to pivot and ask a judge to dismiss its bankruptcy filing entirely.
The Debtors now believe that they are in the unenviable position of having, as their last, best …
Read the full article at: https://www.restaurantbusinessonline.com/financing/cosi-gets-its-bankruptcy-dismissed-so-it-can-apply-federal-aid
