McGrath’s Fish House Restaurant chain has filed for Chapter 11 bankruptcy protection from creditors after the Salem, Ore.-based company’s recent expansion outside the Pacific Northwest.
The chain has no plans to close any of its 20 locations in six states, including its Vancouver restaurant in Cascade Park, owner John McGrath said Thursday. But high home foreclosure rates have caused slumping revenue in many of the locations outside the Northwest, and the company’s managers are assessing those locations in Colorado, Idaho, Utah and Arizona for possible closure, McGrath said.
“With the recession, business has been down a little bit, but in the Northwest our restaurants have been doing real well, especially in Vancouver,” McGrath said. “But in some cities with high foreclosure rates … they haven’t used our restaurants as much as they have in the past.”
