Dean & Deluca Inc., the pioneering gourmet grocer that was already struggling to survive, filed for chapter 11 protection from creditors as the coronavirus brought New York City shoppers to a virtual standstill, Bloomberg News reported. The company listed liabilities of as much as $500 million and assets of no more than $50 million in a bankruptcy petition filed in Manhattan. Its owner, Thailand’s Pace Development Corp., defaulted on a total of 9.5 billion baht (about $315 million) of debt last year. The case is Dean & DeLuca Inc. and Dean & DeLuca New York Inc., 20-10917, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
