Locally-based Saladworks Files For Bankruptcy, Says Stores Will Stay Open
CONSHOHOCKEN, Pa. (AP) — The restaurant chain Saladworks has filed for bankruptcy but says its customers don't have to worry.
Saladworks LLC says its Chapter 11 filing Tuesday won't affect day-to-day operations at its franchised locations.
The company based outside Philadelphia says it filed for bankruptcy to address pending litigation and facilitate a sale or restructuring.
Saladworks founder and chairman John Scardapane has been in a legal battle with investor Vernon Hill over control of the company.
The bankruptcy filing lists Hill's firm as a 30 percent owner of Saladworks. It says the company owes his JVSW LLC and WS Financial $11.4 million.
Saladworks opened its first location in Cherry Hill, New Jersey, in 1986. It has more than 100 stores in the U.S., Canada and Singapore and has planned to add 80 more.
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