Piccadilly files for bankruptcy

Thursday, September 13, 2012 - 4:09pm

An iconic local business has filed for bankruptcy.
Piccadilly filed for chapter 11 late last week because the restaurant is being sued by a New York hedge fund.
Piccadilly says it will try to reduce its costs, but it may have to close a few of its restaurants.
However if it does most of the employees at those spots would be able to move to a different location.
The company says bankruptcy is unfortunate, but it was the only way to keep feeding all its customers.
Piccadilly says it will remain open during the bankruptcy.
It will also keep serving hurricane victims.
Piccadilly has already given out more than 100 thousand meals.

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