Pat & Oscar’s, the Carlsbad-based chain that was bought out just two years ago, has filed for Chapter 7 bankruptcy, but its franchisees are vowing to remain open.
The filing to liquidate the company’s assets comes as the last of the chain’s company-owned restaurants in Temecula, El Cajon and Carlsbad closed last week.
At the time the Pat and Oscar’s management team purchased the company in early 2009, there were 19 Southern California locations. Now there are 11, all franchisees.