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Wednesday, May 08, 2024

Piccadilly closes 13th Street location due to bankruptcy

<p>Piccadilly Cafeteria, 2620 NW 13th St., closed Sunday. The company filed for bankruptcy following an “aggressive legal maneuver” by the company’s lender.</p>

Piccadilly Cafeteria, 2620 NW 13th St., closed Sunday. The company filed for bankruptcy following an “aggressive legal maneuver” by the company’s lender.

For Leighann Bellew, Piccadilly cafeteria on Northwest 13th Street was the go-to place for good chocolate cake.

But on Sunday, the 13th Street location closed its doors for good, leaving the 21-year-old UF theater senior without her devil’s food cake.

The Baton Rouge-based restaurant chain filed for Chapter 11 bankruptcy Sept. 12 after an “aggressive legal maneuver” by the company’s lender, Atalaya Capital Management, according to a press release.

Piccadilly, founded in 1944, has about 80 restaurants throughout the Southeast, the release stated.

“When it comes to our team members and guests, closing a Piccadilly restaurant is the last option that we want to consider,” said regional manager Frank Frantom in a statement. “However, it is necessary to ensure a continuation of the Piccadilly brand.”

Frantom said the company will try to place employees from the 13th Street location at other Piccadilly restaurants.

Mark Rush, a UF economics professor, said Piccadilly is no exception to the tough restaurant economy.

“It’s always a hard time being in the restaurant business,” he said, “and it’s been harder in the last few years.”

From the time a student enters UF as a freshman to the time of graduation, Rush said that restaurant section of the phonebook will see significant change because “restaurants come and go.”

For Bellew, Piccadilly’s end is a sad one.

“It’s not like I went there all the time,” she said, “but it was a nice place to go.”

Piccadilly Cafeteria, 2620 NW 13th St., closed Sunday. The company filed for bankruptcy following an “aggressive legal maneuver” by the company’s lender.

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