Champps Restaurants, Founded In MN, Files For Bankruptcy
The current owner of the Champps sports-bar chain—which was founded by a local entrepreneur and still operates nine locations in Minnesota—has reportedly filed for bankruptcy.
The Chicago Daily Herald reported that Wichita, Kansas-based F&H Acquisition Corporation, which owns the Champps and Fox & Hound restaurant chains, filed for Chapter 11. In all, the company reportedly operates about 101 sports bars and casual family-dining restaurants in 27 states, and it employs about 6,000 people.
In its bankruptcy filing, F&H reportedly listed debt of $119 million, and it plans to try and sell the company.
Champps was founded by Dean Vlahos, a once-prominent Twin Cities restaurateur who himself filed for bankruptcy protection last year. In addition to Champps, Vlahos founded the higher-end Redstone American Grill chain.
Champps currently has nine Minnesota locations, all of which are in the Twin Cities metro area, according to its website.