The Hollywood Park, Texas-based owners of the Zio’s Italian Kitchen restaurant chain sought bankruptcy protection yesterday, blaming the downturn in the oil and gas industry and weakness in the casual dining sector for its financial woes, the San Antonio Express-News reported today. Zio’s Restaurant Co. operates 15 restaurant locations, including four in the San Antonio area and six overall in Texas. The restaurants are managed by FMP SA Management Group LLC, which is affiliated with Food Management Partners Inc. of Hollywood Park. In court papers filed in U.S. Bankruptcy Court in San Antonio, Zio’s Restaurant estimated its assets at less than $50,000 and liabilities ranging from $1 million to $10 million.
