Daphne's closes fourth OC location

Daphne's closes fourth OC location
Tags: Ethnic, Operations Management
July 6, 2010

The Fast Food Maven has reported that Daphne's Greek Cafe has closed its fourth Orange County, Calif., location within the past year.

From the story:

7/6 update: A representative for Daphne’s said the chain should be out of bankruptcy early August. More locations are expected to close because they are either unprofitable, or Daphne’s could not renew the lease.

In June, the company filed for Chapter 11 bankruptcy protection in an effort to restructure its debt.

Founder George Katakalidis said the filing was intended to help the company refocus on its core market of California. According to the filing, the company had more than $17 million in debt as of Nov. 30, 2009.