Perkins & Marie Callender’s Inc. has filed for bankruptcy protection amidst closures of 29 underperforming venues. The closures are happening as a part of the company’s restructuring processes, where it has announced that it plans to sell assets tied to the Perkins side of the business. In a statement, Perkins said, “The company is continuing discussions with investors and potential buyers regarding the Marie Callender’s restaurants. Once an agreement is finalised, an additional announcement will be made.”

While the brands organise the restructuring, remaining restaurants will continue operations normally. Jeff Warne, CEO and president, said, “Our intention moving forward is to minimise disruptions and ensure that the sale process is as seamless to our guests, employees and vendors as possible.” Currently, Perkins has 342 locations, and Marie Callender’s has seven company and 21 franchised restaurants.