Claim Jumpers filing for Chapter 11

Recently, it was announced that Claim Jumpers Restaurants LLC sought Chapter 11 bankruptcy protection with a plan to sell its business to one of its investors. The restaurant chain operates in California and seven other states throughout the country.

In its filing, the company listed assets of approximately $100 million and debts that exceeded $500 million.  The company filed its Chapter 11 documents in a U.S. Bankruptcy Court in Delaware.

Private Capital Partners agreed to purchase all assets said Claim Jumper in a statement.  The restaurant chain expects to leave bankruptcy within 60 to 75 days with no debt.  The company also told news sources that it filed a motion to set up an asset auction. 

Chief Executive Officer Mark Augarten released a statement that said, "Our operations will continue just as they always have during the sale process."

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