O’Charley’s sister brands file for Chapter 11

The holding company for three sister companies to O’Charley’s has filed for protection from its creditors, a move that could let the company’s leaders make some big moves going forward.

American Blue Ribbon Holdings on Monday filed Chapter 11 papers in Delaware, saying it has secured from parent company Cannae Holdings $20 million in financing that will help it further scrub the operations of its Village Inn and Bakers Square chains while also exploring “a variety of strategic and structural initiatives to best position the company for success in the future.” American Blue Ribbon also owns Legendary Baking, which makes 25 million pies per year and supplies its sister companies as well as selling to outside customers. (O'Charley's sits under the umbrella of ABRH LLC, which also is the immediate owner of American Blue Ribbon.)