Tumbleweed in Chapter 11

Didn't TW go through chapter 11 or some sort of "realignment" once before?

I don't think T-Weed has previously filed for Bankruptcy protection, but during the past few years they have been working to restructure their debt load (they claimed to be about $18m in the hole when they filed last week), and some of their franchised restaurants have closed (seven were shuttered in Wisconsin last December)....

.

I searched for the appropriate story to support my point, but I could not find it. It was from the CJ, so I'm sure I would have been tarred and feathered if I did post it.

So, anyway, awhile back I read this CJ story announcing the ownership deal with the current owners - the guys from Trinity. The story included a pretty extensive history of the restaurant, including the many different ownership models that the company has used. I don't remember all the details and I'd rather not start guessing. Needless to say, I was kind of shocked at the various and numerous ownership models Tumbleweed has utilized.

So while I don't think they have declared bankruptcy before, I do believe there have been numerous realignments in their business model as well as shifts in ownership - two ideas that are related, for sure.