The chain employs more than 2,000 people but plans to continue operating its 29 restaurants in New Mexico, Arizona, Arkansas, Oklahoma and Texas during the Chapter 11 process.
Buffet Partners LP said a December ice and sleet storm in North Texas, leaving tens of thousands of people without power and stranding drivers, severely hurt its already tenuous liquidity.
Barry M. Barron Sr., who was named chief executive of Buffet Partners last June, said in a statement that because of “the challenges facing our industry and the liquidity constraints due to our indebtedness and the recent ice storm, we need to explore options to restructure our debt, recapitalize and position ourselves for future growth.”
Buffet Partners, of Plano, Texas, said it plans to restructure a debt load that tops $40 million.
Founded in 1946, Furr’s menu includes such entrees as pot roast, fried chicken, and grilled liver and onions, as well as salads, side dishes like macaroni and cheese and black-eyed peas, and pies and other desserts.