CraftWorks Holdings LLC, parent company to the Boulder-born Old Chicago Pizza & Taproom restaurant chain, filed for Chapter 11 bankruptcy protection yesterday in the U.S. Bankruptcy Court in Delaware, the Loveland (Colo.) Reporter-Herald reported. In total, CraftWorks plans to close 37 of its 338 restaurants. Court documents have yet to detail which locations are included in that 37. CraftWorks lists assets between $100 million and $500 million and liabilities within that same range. The firm has between 1,000 and 5,000 creditors, according to court documents. The firm announced yesterday a credit and asset purchase agreement with investor Fortress Credit Co. that reduces CraftWorks’ debt by $140 million, or about 60 percent.
