Perkins & Marie Callender's LLC

The firm was counsel to the creditors’ committee in Perkins & Marie Callender’s and affiliates in their 2019 chapter 11 case. The debt load included $115 million in secured debt, with $100 million owed on term-loan debt and $8 million in unsecured trade debt. The Tennessee-based company has a long history in the often volatile restaurant chain industry. Perkins was founded in 1958 and Marie Callender’s was founded in 1948. The firm facilitated a going-concern transaction that resulted in a meaningful recovery to unsecured creditors.