LAYTON -- A Chapter 11 bankruptcy filing by Memphis, Tenn.-based Perkins & Marie Callender's Inc. will not shutter the doors on the Marie Callender's restaurant in Layton, at 1600 N. 1000 West.
The Marie Callender's in Bountiful at 406 S. Main St. closed in May.
The Layton Marie Callender's, and the Marie Callender's on 3900 South in Salt Lake City, are the only Marie Callender's listed on the company's website as being in operation in the state.
The company has entered into a restructuring support agreement with 100 percent of its secured noteholders and more than 80 percent of its unsecured noteholders, according to a news release on the company website.
The restructuring agreement requires the company to file a plan of reorganization no later than July 14, and to complete the restructuring no later than Oct. 21.
The action will result in 58 Perkins and Marie Callender's restaurants closing across the country. Of those, 31 will be Marie Callender's restaurants, two of which are in Utah, in Midvale and West Valley City.
The Perkins restaurant in Salt Lake City will not be affected.
The first round of closures was based on historical financial performance, local market conditions and cost structure, Perkins CEO Jay Trungale said in a prepared statement.
"The agreement reached with our noteholders will allow the company to restructure its balance sheet on an expedited basis, strengthen its restaurant operations and ensure the long-term viability of the company," Trungale said.
"Our restaurant operations will not be impacted by the restructuring, and our customers will continue to receive the highest-quality products and dining experience they have come to expect from our restaurants."
Perkins, concentrated in the midwestern and southeastern states, has 133 company-owned and 315 franchised restaurants.
Marie Callender's, located in California and the Southwest, operates 52 company and 37 franchised restaurants.