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PGHC Holdings files for bankruptcy and closes 95 restaurants

Nov 06, 2018 - Marketline Newswire

PGHC Holdings has filed for bankruptcy protection through a stalking horse sales agreement with private equity investment firm Wynnchurch Capital.

This move will allow the company to maintain normal restaurant operations prior to sale with improved liquidity.PGHC will also solicit competing offers to maximise the value of the sale, which is currently subject to court approval.PGHC's chief financial officer Corey Wendland said: "We are pleased to have reached an agreement that will ensure a...