Fast casual restaurant Cosi has filed for reorganization under Chapter 11 of the Bankruptcy Code.
In December 2019, the company closed 30 locations as part of the restructuring.
Cosi expects to emerge from Chapter 11 with a greater focus on its burgeoning catering business. Cosi has retained a chief restructuring officer, Jason F. Fensterstock, to assist with the development and implementation of its business plan and the associated cost cutting and initiatives which are well underway and include the opening of several new locations in the first half of 2020.
Follow the story on ABFJ:
Cosi Requests $1MM Increase in DIP Financing to Support Reorganization
AB Opportunity Fund, Others Provide $4.1MM DIP for Cosi
