BRIEFLY
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Bankruptcy Filing: Rusty Pelican, which on Sunday closed six of its 24 restaurants, filed Thursday for reorganization under Chapter 11 of the U.S. Bankruptcy Code, said Marc Winthrop, a bankruptcy lawyer based in Irvine.
Rusty Pelican executives had said earlier in the week that the filing would be made as soon as possible. The company, based in San Juan Capistrano, blamed the filing, made in U.S. Bankruptcy Court in Santa Ana, on debt left over from a leveraged buyout in the 1980s and expensive leases at the six restaurants that were closed. The company’s remaining 18 restaurants are open for business.
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