GREENVILLE — A South Carolina-based fast-food franchise company has filed for bankruptcy, saying the move was needed to reorganize the company’s finances as it faces more than $5 million in debts and impending action by creditors.
Four “sister subsidiaries” of Red Door Brands LLC filed for Chapter 11 bankruptcy protection July 15 in the U.S. Bankruptcy Court for the District of South Carolina. The company operates 31 fast-food restaurant locations across the Southeast, including outlets in South Carolina, Georgia, and North Carolina.
In official court filings, Red Door Brands LLC cited significant financial challenges as the primary reason for seeking Chapter 11 protection. The filings state that the company has accumulated over $5 million in liabilities, including debts to suppliers, lenders, and other creditors. With growing financial pressures and impending legal actions from creditors, the bankruptcy filing aims to give the company breathing room to restructure its operations and debts in an orderly fashion…