It’s looking like the famed Los Angeles food chain Rosecoe’s Chicken & Waffles may be in some financial trouble. The restaurant has been serving up their amazing chicken and waffle combos since 1975, and has attracted the attention of many, including President Obama back in 2011.
Unfortunately, the restaurants parent company East Coast Foods Inc. filed for bankruptcy last week after they were ordered to pay Daniel Beasley, a former employee, millions after he won his racial discrimination and wrongful termination lawsuit against the chain.
A jury ordered the chain to pay him a total of $3.2 million after he accused the restaurant of giving Latino employee’s particular treatment over African American employees. Some of the treatments included better schedules and shifts. Once he brought forth these issues he was fired, and eventually became homeless.
East Coast Foods Inc. estimated that it has debts between $10 million and $50 million; its assets are worth less than $50,000. However, the company’s filing did not mention if it would affect the day-to-day business of their seven Southland Roscoe’s restaurants.
During the court filings East Coast Foods listed Beasley as one of its largest creditors.
Source: http://www.latimes.com/business/la-fi-roscoes-chicken-waffles-bankruptcy-20160329-story.html
