Southern burger chain Krystal files for bankruptcy
A Southern restaurant chain known for tiny hamburgers and late-night service has filed for bankruptcy.
Federal court documents show the Krystal Co. sought federal bankruptcy protection in Atlanta on Sunday. Documents say the company owes between $50 million and $100 million to food suppliers, equipment companies and others.
Krystal was founded in Chattanooga, Tennessee, in 1932 and is now based in Atlanta. With more than 300 restaurants and 7,500 employees, Krystal calls itself the South's oldest fast-food chain.
It hasn't announced any new restaurant closings linked to the bankruptcy, but it previously closed dozens of locations.