Village Inn Bakers Square Owner Files For Bankruptcy- Will They Close In CV?
Village Inn and Bakers Square owner has filed for bankruptcy on Monday according to restaurantbusinessonline.com. American Blue Ribbon filed for bankruptcy citing that high wages and growing competition in the restaurant industry has caused declining sales and higher operating losses. American Blu Ribbon also said they are looking to restructure and find alternatives to keep the company growing in the future. However, this news did not just stop with filing for bankruptcy.
They also closed 33 locations which represents a quarter of the locations they owned and operated. The company runs 97 restaurants, most of them being Village Inns (75) while the others are Bakers Square. However, another 84 Village Inn restaurants are franchised and do not seem to be closing at this time, same goes for the 22 Bakers Square franchises. So, what does this mean for the Village Inns in the Cedar Valley?
Well, right now there are two Village Inns in the Cedar Valley, one in Waterloo on Ridgeway Avenue and the other in Cedar Falls on University Avenue. They are both franchisees and do not seem to be affected by this news and are still open! Let's cross our fingers that they stick around and will not be affected by any of this!