Editor’s note: OPA! of Greece Canada (OPA Souvlaki Franchise Group Inc.), a completely separate and independent company based in Calgary, Alberta is not the company being referred to in this article. OPA! of Greece Canada is not affiliated in any way with the U.S. entity referenced in this story.
A Chapter 11 bankruptcy filing comes with some hope. It’s a chance to negotiate with creditors in order to try to find a path forward.
That doesn’t always work, but there are many examples of restaurant. chains that made comebacks after a Chapter 11 filing. Not every chain on this list has become a world beater, but they at least lived to fight another day.
Chapter 11 chains that survived:
- Applebee’s Chapter 11: 2007 (parent company DineEquity)
- Outcome: Reorganized and expanded aggressively; over 1,600 locations today. Applebee’s has bounced back with menu updates, franchising, and focus on delivery/pickup.
- Friendly’s: Chapter 11: 2011
- Outcome: Closed underperforming locations, refreshed menu/brand, and continues to operate 120 locations, primarily in the Northeast.
- Cosi: Chapter 11: 2016
- Outcome: Shrunk footprint, restructured debt, pivoted toward fast-casual and catering; still operates in select markets.
- Sbarro: Chapter 11: 2011 and 2014
- Outcome: Closed many mall locations, modernized menu, expanded to international markets; still active globally.
Filing Chapter 7 bankruptcy, however, means the company will be liquidated. A buyer could emerge that continues operations, but the company can just as easily be sold for parts.
Opa, a Greek/Mediterranean chain has filed for Chapter 11 bankruptcy protection and closed all of it stores.
Image source: Pixabay
Opa restaurants file Chapter 7 bankrutpcy
Very little has been released by Opa aside from the official Chapter 7 bankruptcy filing.
“Opa! Restaurant Group has filed to liquidate its assets in a move that would trigger a shutdown of all of the chain’s remaining restaurants in the South Bay, according to several bankruptcy court filings,” SiliconValley,com reported. “…The restaurants that filed for Chapter 7 — Campbell, Morgan Hill and Santa Clara — appear to have shuttered. In addition, Opa Signature Foods also filed to liquidate its assets through a bankruptcy proceeding.”
The company has filed to liquidate its assets. The filing likely means a shutdown of all of the chain’s remaining restaurants in the South Bay, according to several bankruptcy court filings.
The Opa! dining company filed for a Chapter 7 bankruptcy, seeking a court-supervised liquidation of its assets, documents filed Sept. 19 with the U.S. Bankruptcy Court show.
Bankruptcy Filing Details
- Case Numbers: 5:25-bk-51447 (Santa Clara, LP) and 5:25-bk-51451 (Signature Foods, LP)
- Filing Date: September 19, 2025
- Court: U.S. Bankruptcy Court, Northern District of California
- Chapter: 7 (Voluntary, No Asset)
- Trustee: Doris A. Kaelin
- 341 Meeting: Scheduled for October 15, 2025
Source: Inforuptcy.com
These filings indicate that the companies are in the process of liquidating their assets, with no significant assets expected to be available for distribution to creditors.
Related: Italian chain closes most restaurants in Chapter 11 bankruptcy
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