Two restaurant companies with locations in Las Vegas filed for bankruptcy protection Thursday. Both cited the coronavirus pandemic as a major cause.
The parent company of Il Mulino, the Italian restaurant based in the Forum Shops in Caesars, filed for bankruptcy protection for seven of its locations outside of New York City, including Las Vegas. The Wall Street Journal reports that the restaurant’s manager, KG LM LLC, has filed a lawsuit in the US bankruptcy court in Manhattan to prevent lenders from taking over seven locations. The company defaulted on a loan in June and owed around $ 36.3 million.
California Pizza Kitchen, which operates around 200 locations nationwide, including six in Las Vegas, also filed for bankruptcy on Thursday. The Playa Vista, California-based chain plans to close unprofitable locations, Restaurant Business reports. The chain paid no rent in “most locations” during the coronavirus pandemic and owed more than $ 400 million. CPK’s Las Vegas locations include one at McCarran International Airport, downtown Summerlin, the Fashion Show Mall, and Town Square. The locations in the park and in the Mirage will remain closed for the time being.
• The owner of Il Mulino bankrupts a number of restaurants outside of New York City [WSJ]
• California Pizza Kitchen files for bankruptcy [Restaurant Business]
• How Coronavirus Affects Las Vegas Food and Restaurants [ELV]