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Unlike the other bankruptcy story affecting Evanston recently, the Giordano’s Pizza story may have a tangy but pleasant topping. The Chicago Tribune reports that Giordano’s “won court approval [on Feb. 17] to use a portion of its $36 million bankruptcy loan to continue operating. Fifth Third Bank provided the financing.”
Reportedly, the company owes more than $45 million to Fifth Third Bank, its principal lender. The bank agreement outlines the possible sale of the company, according to the Chicago Tribune. The Tribune said Giordano’s operates “six company-owned stores in the Chicago area, four joint-venture stores and 35 franchisee locations, according to its court filing.”
So the Evanston Giordano’s looks safe and warm.