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Boulder-based owner of 108 Hardee’s restaurants bankrupt

BOULDER – Six LLCs that are part of Boulder-based Capstone Restaurant Group, who recently closed 39 of their 147 Hardee’s fast-food locations, have filed for Chapter 11 bankruptcy protection, according to BusinessDen.

The companies employ 2,250 mostly part-time people at Hardee’s restaurants across eight states.

According to documents filed in the bankruptcy court May 4, the companies, headquartered at 7490 Clubhouse Road in Boulder, owes $22.1 million plus interest to Cadence Bank on a loan Cadence gave it in late 2020. Another $6 millions is owed for franchise payments and rent at the 108 remaining stores.

Source: BizWest