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 Restaurant Group, a formerly fast-growing Greek/Mediterranean chain has filed for Chapter 11 bankruptcy protection and closed all of it stores.

Related: Popular tourist restaurant chain closing all locations this month

A look at Opa Restaurant Group 

Opa has been a fast-growing success story for most of its existence. The company described its mission on its website:

When we opened our first location in 1998, Opa! set out to be a different sort of quick-service restaurant, one that combined delicious, wholesome Mediterranean cuisine with outstanding customer service. Twenty years later, our mission remains the same.

Opa! started with a single food court location in Calgary’s Market Mall, where we served classic Greek dishes made using high-quality ingredients. The name, a Greek word used to express happiness, evokes the joy and celebration of feasting with family and friends.

The company also described itself as the “fastest-growing quick service Mediterranean franchise in the country.”

Opa offers traditional Greek food. 

OPA! Restaurant Group timeline: 

  • 1998 — First OPA! opens in Calgary, AB.
  • 2000s — Rapid mall food court expansion across Western Canada.
  • 2010s — Adds street-front units; surpasses 80 locations.
  • 2018 — 20th anniversary; announces first U.S. site at Las Vegas Fashion Show Mall.
  • 2020 — Pivots to delivery during COVID-19.
  • 2023 — Confirms one U.S. location open; sets strategy to grow with multi-unit U.S. partners.
  • 2025 — 100+ locations in Canada and U.S.; continued domestic and cross-border expansion focus.

Opa Restaurant Group files Chapter 7 bankruptcy

Image source: Pixabay Very little has been released by Opa aside from the official Chapter 7 bankruptcy filing. A number of California locations have closed, but because the chain is mostly franchise-operated, it’s unclear if all locations will close. 

“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.”

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