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WINSTON-SALEM, N.C. — K&W Cafeterias, a North Carolina-based icon of Southern comfort food for more than 80 years, has filed for Chapter 11 bankruptcy protection, a move that follows downsizing that began prior to the COVID-19 pandemic.
The Winston-Salem based company filed the 80-page petition in U.S. Bankruptcy Court for the Middle District of North Carolina. The filing was first reported by the Winston-Salem Journal.
Before K&W filed for bankruptcy, it closed restaurants in Chapel Hill, Goldsboro, Raleigh and Salisbury. Since celebrating its 75th anniversary in 2012, K&W has gone from 35 restaurants to 18.
The newspaper reported that a Paycheck Protection Plan loan to K&W was one of the largest granted to a North Carolina business. K&W said in its PPP application that it would attempt to save at least 500 jobs with the unspecified loan.
The company also was impacted by state-mandated limits on dining. While K&W regained some business during Phase Two of North Carolina's restrictions on businesses in response to the pandemic, it struggled because its primary customers are the elderly, who were told to stay at home to avoid exposure to COVID-19.
This article originally appeared on Times-News: K&W Cafeterias file for Chapter 11 bankruptcy protection
