Pat & Oscar’s Files for Bankruptcy Protection, Closes 3 LocationsTuesday, September 27, 2011
Carlsbad-based restaurant chain Pat & Oscar’s has filed for Chapter 7 liquidation bankruptcy and closed three corporate-owned locations in Carlsbad, El Cajon and Temecula. Eleven franchised locations remained open as of Sept. 27.
In a Sept. 26 statement, operators said the struggling chain had been working to streamline operations in recent months, but those moves proved insufficient. The bankruptcy filing was made Sept. 21, and the three company-owned restaurants were closed Sept. 23.
“Our franchisee group is currently working together to ensure the longevity of the Pat & Oscar’s brand at all remaining Pat & Oscar’s locations,” Executive Vice President Tim Foley said in the statement. A group led by Foley and John Kaufman purchased the chain in 2009.
Pat & Oscar’s was started in 1991 by Pat and Oscar Sarkisian, who opened their first location in Carmel Mountain Ranch. The chain once had 19 Southern California locations.
— Lou Hirsh