The Newton-based UFood Restaurant Group, which operates UFood Grill locations throughout Boston and in four other states, has filed for bankruptcy. The Boston Business Journal reports that news, says the company's stock had been trading "in the pennies" and notes that the company's founder and CEO resigned last month. So will UFood Grills start closing? Not necessarily.
The BBJ says that the restaurants "aren't going away anytime soon, although the bankruptcy documents hint that a couple of unprofitable locations in Watertown and the Fenway area could be pared back or closed." The article says the chain began its life at that Watertown location as Lo Fat Know Fat and then the KnowFat Lifestyle Grille before settling into its current identity. UFood Grill seeks to do fast food in a somewhat healthy fashion in the form of smoothies, burgers, wraps, and grilled entrees with veggie sides. UFood Grills can currently be found at the Landmark Center in Fenway, at Logan Airport, in Downtown Crossing and Watertown.
· Changes coming for UFood Restaurant Group following bankruptcy filing [BBJ]
· UFood Restaurant Group files for bankruptcy [BRT]
[Photo: A Better Bag of Groceries]