Spokane Old Country Buffet restaurants close in Chapter 11 bankruptcy

The last two Spokane Old Country Buffet restaurants have closed as part of the parent company’s Chapter 11 bankruptcy filing.

The company last week announced it will probably close up to 81 underperforming locations. The two Spokane locations were at 12205 E. Sprague and at 5504 N. Division. They were shut last week, with no plans to reopen, said a spokesperson.

Buffets, Inc., the head company, has operated close to 500 restaurants nationwide. It’s based in Minnesota.

Its bankruptcy documents state plans to eliminate about $245 million in debt.

Here’s a link to some of the financials involved.

The vacancy in the Valley is next to the open 10,000-square foot space last used by a Jo-Ann Fabric store.

Brokering that office space is Carl Guenzel of Kiemle & Hagood. Guenzel said he thinks now that the right tenant can work with both spaces which together equal about  25,000 square feet of good retail space. You check in with Guenzel on that possible space, he’s at 755-7543.