Company emerges with significantly improved balance sheet
Perkins & Marie Callender's completed its restructuring and emerged from Chapter 11 bankruptcy. The restructuring eliminated more than $200 million in debt.
Private investment funds managed by Wayzata Investment Partners LLC are the majority stockholders in the company. Joseph F. Trungale served as CEO and a member of the bard since 2005 will continue to serve as CEO and chairman of the new board of managers.
Perkins & Marie Callender's and eleven of its subsidiaries and affiliates filed for Chapter 11 protection on June 13, 2011.