Cosi Files for Chapter 11 Bankruptcy Reorganization
Fast casual restaurant Cosi has filed for reorganization under Chapter 11 of the Bankruptcy Code.
February 26, 2020
Cosi
nadine
Fast casual restaurant Cosi has filed for reorganization under Chapter 11 of the Bankruptcy Code.
Cosi filed a motion with the U.S. Bankruptcy Court to increase amount the of borrowing under its DIP loans. In September, AB Opportunity Fund an other lenders have provided $6.5 million DIP financing.
Cosi filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Massachusetts. The company is planning to initiate a 363 sale to improve its financial position.