Consumer

Concord-Based Round Table Pizza Files For Bankruptcy

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Pizza. (AP)

Pizza. (AP)

CONCORD (AP) — The Bay Area company that promises to serve “The Last Honest Pizza” is filing for bankruptcy.

Round Table Pizza Inc. filed for Chapter 11 bankruptcy on Wednesday, but executives insist that it won’t affect the pizza chain’s 483 restaurants for now.

The company listed debts ranging from $10 million to $50 million. In court documents, the Concord-based company blamed its financial troubles on an expansion it launched just before the recession hit.

Executives say they will try to get concessions on rental rates from owners of its restaurant properties.

Round Table owns 128 restaurants and has 355 franchises in Alaska, Arizona, California, Hawaii, Nevada, Oregon and Washington.

Vice President Jim Robertson said some company-owned restaurants could close, and some employees could be laid off.

(© 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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