Giordano’s Chapter 11 Trustee Appointed, Operations Continue Unchanged
Philip V. Martino was appointed the Chapter 11 Trustee for Giordano’s Enterprises, Inc., Giordano’s Franchise, Inc., Americana Foods, Inc and thirty affiliated companies by the U. S. Bankruptcy Court for the Northern District of Illinois, Eastern Division.
The Company operates six restaurants and is the joint venture partner or franchisor for forty one additional locations. The joint venture and franchise locations are not included in the Company’s Chapter 11 proceedings. In addition, the Company operates Americana Foods, Inc. that serves as the commissary for the Illinois restaurant locations.
Mr. Martino, a partner with the law firm of Quarles & Brady with extensive expertise with restaurant franchise operations, stated, “Thanks to the strong support of Fifth Third Bank, the Company’s primary secured lender, the Official Creditors’ Committee, and the continued performance of Fred Caruso as Chief Operating Officer, day to day business operations will not change because of my appointment. This will allow me to focus on the sale process already underway. Even though the formal marketing process for the sale of the Company has not begun, I am amazed at the level of interest expressed by numerous parties”.
Founded in Chicago, Illinois in 1974, Giordano’s has been a Chicagoland institution for 36 years and is primarily known for its “Chicago World Famous Stuffed Pizza”. Giordano’s remains open for business and fully operational, and will continue to serve its customers.
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