With debt ranging from $50 million to $100 million, the Krystal Company – with restaurants located in nine states – has filed Chapter 11 bankruptcy.

The company – which plans to remain open – has one restaurant in Jackson at 1978 North Highland Avenue.

Krystal closed a second location at 12 Stonebridge Blvd., in September 2019.

As of late 2019, Krystal had 318 restaurants, including 202 company-owned stores and 166 franchise locations. Its restaurants are located in Alabama, Georgia, Tennessee, Georgia, Florida, Kentucky, Mississippi, North Carolina, South Carolina and Arkansas.

The chain closed dozens of restaurants in recent months.

Krystal employs nearly 5,000 employees, mostly part-time workers. It listed assets in a range of $10 million to $50 million.

(PHOTO: Krystal closed this restaurant at 12 Stonebridge Blvd., in Sept. 2019)

David Thomas, Twitter – @DavidThomasWNWS
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