Vicorp Restaurants requests case dismissal, cites lack of funds

By Caroline Salls

Pittsburgh, Nov. 30 - Vicorp Restaurants, Inc. asked the U.S. Bankruptcy Court for the District of Delaware to dismiss its Chapter 11 bankruptcy case and dissolve the debtors, according to a Wednesday filing.

The company said its remaining assets are required to be used to pay exit costs.

As a result, Vicorp said it does not have any additional funds or assets to use to make distributions to holders of other priority claims or general unsecured claims.

In addition, the company said it does not have any remaining valuable assets it can liquidate in a cost-effective manner to benefit its estates.

A hearing is scheduled for Dec. 23.

Vicorp, a Denver-based restaurant operator, filed for bankruptcy on April 3, 2008. Its Chapter 11 case number is 08-10623.

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