Pub Owner Files for Bankruptcy
Posted on Jul 17, 2011 7:10pm PDT
The owner of Elephant & Castle pubs has reportedly filed for Chapter 11 bankruptcy protection. According to reports, the company filed after defaulting on a loan to a unit of General Electric & Co. The company reportedly has 866 people employed at this time. The company even had a revenue of about $47.5 million last year, but has been struggling with the economy at this time.
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