The parent company of Fox & Hound and Champps Americana has filed bankruptcy the Daily Herald reported.
The parent company of the sports bar and restaurant chains, F&H Acquisition Corp., filed for bankruptcy citing $119 million in debt and poor economic conditions caused by the recession, the newspaper reported.
The Chicago Tribune reported that the Chapter 11 filing would allow F&H to run a "streamlined sale process" for its assets. The newspaper reported that the company had $218.8 million in revenue through September, down about 5 percent from the previous year.
Champps are located in Orland Park at 16165 La Grange Road, as well as Lincolnshire at 275 Parkway Drive, in Lombard at 2301 Fountain Square Drive, and Schaumburg at 955 E. Golf Road.
There are four Fox & Hound restaurants in the Chicago area: Arlington Heights, 910 W. Dundee Road, Fox & Hound Aurora, 4320 E. New York Ave., Fox & Hound Bloomingdale, 370 Army Trail Road, Fox and Hound Schaumburg, 1416 N. Roselle Road.
F&H Acquisition Corp. operates 101 restaurants in 27 states, the Fort Worth Star-Telegram reported.
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