Foodienomics

Bistrot Margot, Izumi Sushi, and Jim Ching’s All File Chapter 11

Photo: courtesy Bistrot Margot

That darn recession, when will it back off? The latest non-fatal economic wounds inflicted on Chicago’s restaurants come in the form of a rash of Chapter 11 filings: Bistrot Margot, Izumi Sushi, and Jim Ching’s have all declared bankruptcy, Chicago Real Estate Daily reports. While all three restaurants remain open during bankruptcy proceedings, sister restaurants Izumi and Jim Ching’s are dealing with debts of $10 million or less each against assets of less than $1 million, while the independently owned bistro owes about $1.57 million in total. “All things considered, we’re blessed,” said Bistrot Margot chef/owner Joseph Dopps. “We’re not struggling as much as others.” [CRED]

Bistrot Margot, Izumi Sushi, and Jim Ching’s All File Chapter 11