Castle Harlan Inc. portfolio company Perkins & Marie Callender’s Inc., owners of Perkins restaurants, filed for Chapter 11 bankruptcy protection, Reuters reported. The company listed assets at $290 million and liabilities at $440.8 million. Castle Harlan bought the restaurant company in 2005, and in April hired an adviser to explore its options—including bankruptcy. Perkins owns about 600 restaurants across North America.
Pacific Equity Partners portfolio company REDGroup Retail, which was once Australia’s largest bookstore owner, is urgently looking for a buyer, and will close shop if one is not found, Reuters reported. Administrators for the company began looking for a buyer after they were unable to reach a deal with creditors.
Signature Styles, owner of catalog and internet retail sites including Spiegel, has filed for Chapter 11 bankruptcy protection, Reuters reported. Signature Styles was formed in June 2009 by investment firm Patriarch Partners LLC to acquire Spiegel Brands from Dymus Funding Co. The deal was worth $21.7 million, Reuters wrote. In the bankruptcy filing, the company listed assets in the range of $10 million to $50 million, and debts in the $50 million to $100 million range.