Piccadilly Restaurants

Piccadilly Restaurants
3:00 pm
Thu September 13, 2012

Piccadilly files for Chapter 11 bankruptcy

Piccadilly Restaurants, a Baton Rouge-based cafeteria chain, has filed Chapter 11 bankruptcy.

Thomas Sandeman, the company's CEO, told The Advocate the filing, which was made Tuesday in U.S. Bankruptcy Court in Lafayette, will protect the value of Piccadilly, along with its employees and restaurants.

The bankruptcy filing said the chain wanted to protect itself from what it called "an aggressive legal maneuver" taken by lender Atalaya Capital Management.

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