Piccadilly Files For Bankruptcy Protection

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

(Baton Rouge, LA) Piccadilly Restaurants LLC has filed for Chapter 11 bankruptcy protection.

The cafeteria style restaurant chain is trying to fend off lender Atalaya which wants to take the company over. 

The restaurant chain reportedly owes between $10 million and $50 million to creditors.

Piccadilly has restaurants in Memphis and other southern cities with a total of 80 restaurants with 3,500 employees.

Piccadilly previously filed for bankruptcy in 2003.