Regis Hotel I, LLC announced on behalf of Piccadilly Inn Hotels that three Piccadilly Inn locations, have filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code.
The properties affected are Piccadilly Inn Airport, Piccadilly Inn Shaw, and Piccadilly Inn Express locations in California.
Restructuring under Chapter 11 allows Piccadilly Inn to continue normal operations led by current management, while restructuring its financial indebtedness. Hotel operations at all three locations will continue as normal with no anticipated impact on guests, suppliers, and employees.
“The current economy has greatly reduced both tourist travel and business travel causing the hotel industry to be crushed. We’re fortunate enough that the Piccadilly Inn hotels are well established properties with a strong reputation in the area. Most importantly, there will be no interruption in service to our clients and guests and we will continue seamless day to day operation of all four Piccadilly Inn locations,” commented Steven Moore, Vice President of Regis Hotel I, LLC.
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