Restaurant chain closes half its locations after filing for bankruptcy

Planta, the restaurant chain known for vegan meals, has closed half of its locations following a bankruptcy filing in May.

The restaurant chain had 18 locations open at the time of its Class 11 bankruptcy protection filing and will now shrink down to eight locations, according the Street.

In the filings, the chain reported between $10 and $50 million in liabilities and almost no assets, according to court documents.

The chain’s locations in West Palm Beach, Coconut Grove, Fort Lauderdale, and South Beach in Florida, Brentwood in California, Buckhead and Krog Street Market in Atlanta and Williamsburg in Brooklyn are among those closed.

Planta’s parent company, CHG US Holdings LLC, was sold off to New CHG US Holdings for around $7.8 million in order to facilitate keeping the remaining locations open, according to the Street.

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