Deals
Upscale Restaurant Chain Goes Bust, Blaming ‘Progressive’ Wage Laws
- Restaurants Unlimited lineup includes Kincaid’s, Stanford’s
- Pay hikes boosted costs in Seattle, San Francisco, Portland
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Progressive wage policies helped force upscale eatery operator Restaurants Unlimited Inc. into bankruptcy, according to court documents filed Sunday.
The company, which operates 35 restaurants ranging from fine dining to “polished casual” eateries, including Henry’s Tavern, Stanford’s and Kincaid’s, filed for Chapter 11 protection in Delaware on Sunday. Minimum wage hikes, two disappointing restaurant openings and consumers shunning casual dining are to blame for the bankruptcy filing, Chief Restructuring Officer David Bagley said in court papers.