If you’re a frequent Pinstripes customer, then we have some bad news for you. The popular restaurant and entertainment chain has announced that it has filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code, leading to the closure of several of its locations across the country. Here’s a look at which locations have shut down and which ones will remain open.
Which Pinstripes locations have closed?
According to the company, 10 locations ceased operations on Monday, September 8. These are:
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13500 Nall Ave., Overland Park, Kansas
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435 E. Illinois St., Chicago, Illinois
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5001 Trailhead Bend Way, Fort Worth, Texas
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3300 Kirby Drive, Unit 3A, Houston, Texas
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100 N. Water St., Suite 3300, Norwalk, Connecticut
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1 Garden State Plaza Boulevard, Paramus, New Jersey
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11643 Daryl Carter Parkway, Orlando, Florida
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19505 Biscayne Boulevard, 2nd Floor, Miami, Florida
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1115 Broadway Plaza, Walnut Creek, California
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21851 Victory Boulevard, Ste 1250, Woodland Hills, California
Why did Pinstripes file for bankruptcy?
The Illinois-based company announced its bankruptcy on September 8 due to ongoing financial difficulties. Court documents indicate that Pinstripes carries approximately $143 million in debt. To continue operating some locations, the company secured financing of around $3.8 million; however, it is also seeking a potential buyer.
Which Pinstripes locations remain open?
After closing ten locations, eight will continue to operate normally. These are located in:
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Bethesda, Maryland
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Cleveland, Ohio
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Edina, Minnesota
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Washington, DC
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Northbrook, Illinois
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Oak Brook, Illinois
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San Mateo, California
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South Barrington, Illinois
Will Pinstripes continue accepting gift cards?
The company announced that it will no longer sell new gift cards; however, they will still be accepted at the eight remaining open locations.
History of Pinstripes
Originating in the Midwest, Pinstripes has grown rapidly across the United States thanks to its unique combination of made-from-scratch cuisine, in-person recreational activities, and attentive service that makes visitors feel at home.
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For over ten years, the brand has focused on delivering authentic and memorable experiences, where every moment—from the first game to the first smile—reflects fun and warmth. Its locations provide spaces where people can relax, spend time with friends and family, enjoy quality food, and play engaging games, creating positive memories that encourage guests to return again and again.
What is Chapter 11 of the U.S. Bankruptcy Code?
Chapter 11 allows companies to reorganize their debts, typically with the goal of continuing operations. It is one of the most complex bankruptcy procedures, in which the company must present a detailed reorganization plan and negotiate with creditors.
This legislation provides businesses with a chance for a fresh start, although it may also result in the partial transfer of asset ownership to creditors. As a result, business owners must carefully assess the costs and benefits before deciding to file for bankruptcy.
What benefits does Chapter 11 offer?
This section serves as an alternative to penalties, meaning that the company or individuals seeking it can avoid immediate dissolution, liquidation, and drastic cuts. During this process, the law allows the entity to continue operating and restructure without pressure from creditors. At the same time, it enables them to negotiate and propose a repayment plan for their debts.
Moreover, reorganization procedures under Chapter 11 offer the advantage that the company’s management retains control over the business, making the reorganization plans generally more effective, as the executives who stay in charge are the ones best familiar with the company, partnership, or individual involved.
