SAN ANTONIO – Dallas-based Corner Bakery Café has filed for Chapter 11 bankruptcy, according to media reports.
Nation’s Restaurant News reported that the cafe chain, which has two locations in San Antonio, filed in the Delaware Bankruptcy Court last month.
Its assets and liabilities are estimated between $10-$50 million.
KSAT has reached out to the Corner Bakery Café for information about possible closures. This story will be updated when that information becomes available.
Corner Bakery Café sells baked goods, sandwiches, pasta and soup at more than 120 locations across the U.S. Its website lists 32 restaurants in Texas, including one at the Quarry and the other in Stone Oak.
The chain was sold by Roark Capital Group to Pandya Restaurant Growth Brands in Oct. 2020. Pandya is part of the Rohan Group of Companies owned by Jignesh (Jay) Pandya.
At the time, Frank Paci, the chief executive officer of Corner Bakery, said he hoped Pandya would help expand the brand.
“With the strategic and financial backing Jay and his team bring, we will continue to focus on key operational initiatives to improve guest experience, menu development, and the growth of our brand. We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry,” he said in a news release.
The release said that the Rohan Group wanted to see the same success in Corner Bakery that it had when it purchased Boston Market. Rohan purchased Boston Market in April 2020 and subsequently expanded its menu and opened locations, the release states.
“Our acquisition of Corner Bakery aligns with what we believe families are seeking - high quality kitchen crafted food and good, consistent customer service,” stated Pandya.