Giordano’s files for Chapter 11 Bankruptcy Protection


Giordano’s the pizza chain famous for its stuffed pizzas has filed for bankruptcy protection. But the Chicago-based pizza chain will continue to remain open after the bankruptcy court allowed the company to borrow $36 million in bankruptcy loans.

The pizza restaurant’s financial problems were mainly the result of the property market crash in 2007. Giordano’s is owned by the Apostolou family who also owns a real estate company called Randolph Partners LLC which operates primarily in Illinois and Florida. Randolph Partners owes the Fifth Third Bank $45.7 million after it defaulted on its loans due to its inability to lease or sell properties for the last few years.

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