Restaurant Firm Files in Bankruptcy Court
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IRVINE — Trans/Pacific Restaurants Inc., which operates 40 restaurants in California and Hawaii, on Thursday filed for protection from creditors through U.S. Bankruptcy Court in Santa Ana.
“Although this was an extremely difficult decision, our analysis showed that it was a necessary one,” said Trans/Pacific President and Chief Executive Ronald F. Higgins, who linked the filing to “increased competition . . . and the severity of the downturn in both the Hawaiian economy and tourism.”
The company operates restaurants under the Jolly Roger, Monterey Bay Canners, Yum Yum Tree and Islander names. It also operates 12 Sizzler restaurants in Hawaii under a licensing agreement.
All of the restaurants will remain open for business while the parent company is in bankruptcy proceedings, Higgins said.
The 40-year-old restaurant company has about 1,200 restaurant employees in Hawaii and 700 employees in California. A dozen people work at the company’s Irvine headquarters.
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