LAKEWOOD, Colo. A popular landmark in Colorado has filed for bankruptcy amid the crippling COVID-19 crises. Casa Bonita has applied for the protection of Chapter 11.
Summit Family Restaurants, the company that owns the Lakewood restaurant, applied on April 6 for the protection of Chapter 11 in Arizona, according to court documents obtained by Denver7.
The documents did not specify the exact amount the company owes. However, the submission states that the company’s unconditional liquidation debt is below $ 7.5 million.
A capital filing of Chapter 11 provides a business time to reorganize their debt, not necessarily for the better.
Casa Bonita was closed during the pandemic, but recently announced that they will reopen soon. No additional details were provided.
In November 2020, Denver7 spoke with Bob Wheaton, president of Summit Family Restaurants. At the time, there were rumors that the popular venue would not reopen, but Wheaton assured that this was not the case.
“Casa Bonita has been around for 50 years and we hope it will be another 50,” he said in 2020.
Denver7 contacted the company for additional information, but had not yet heard of it.