Yoshinoya Holdings Co. said Wednesday its New York unit will file for Chapter 11 bankruptcy protection to facilitate talks on terminating a lease agreement for a "gyudon" beef bowl restaurant that closed in November 2006.
Yoshinoya New York Inc., with liabilities of some $1.41 million, expects the action to allow the court to mediate its talks with the landlord and bring them to an early conclusion, Yoshinoya Holdings said.
Yoshinoya New York now operates only one gyudon restaurant in New York, which will remain in operation irrespective of the coming legal action, the holding company said.