Photo courtesy The Lost Cajun
Casual dining chain The Lost Cajun filed for Chapter 11 bankruptcy protection Wednesday, citing the impacts of the pandemic on its operations and franchisees.
The New Orleans-inspired concept, which was founded in 2010 in Colorado and lists 25 locations on its website, reported liabilities of more than $1.4 million and assets of about $338,000 in a petition filed in the U.S. Bankruptcy Court for the District of Colorado.
The Lost Cajun Spice Company LLC, which was formed in 2016 to handle the sale and distribution of goods to the chains restaurants, also declared bankruptcy.
During the pandemic, The Lost Cajun reduced salaries and reduced or eliminated franchise fees.
A number of The Lost Cajun franchis…
Read the full article at: https://www.restaurantbusinessonline.com/financing/lost-cajun-declares-bankruptcy
