True Food Kitchen Files For Chapter 11

Scottsdale, AZ-based True Food Kitchen announced on Oct. 5 that it and certain affiliates have filed Chapter 11. The company intends to use the Chapter 11 process to strengthen its financial foundation, optimize its restaurant footprint and cost structure, and accelerate ongoing operational improvements.

In connection with the restructuring, True Food Kitchen has closed 12 restaurants, while its remaining 34 restaurants across 14 states are open and serving guests as usual. As part of the Chapter 11 process, the chain will pursue a court-supervised sale process with the goal of identifying a long-term partner with the resources and mission alignment to support the brand’s future.

Founded in 2008, True Food Kitchen was initially part of the Fox Restaurant Concepts empire. The brands specializes in thoughtfully sourced, nutrient-dense food made with real ingredients, culinary technique and big flavor.

The company has secured a commitment for approximately $20 million in debtor-in-possession financing from HumanCo TFK IV, subject to court approval. Together with cash generated from operations, the financing is expected to provide liquidity to support the business through the Chapter 11 and sale processes.

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