The company filed for Chapter 11 bankruptcy protection late Wednesday, announcing in a press release that it’s putting itself up for sale and will close a substantial number of stores so it can “prosper in the current retail environment and position the company for a vibrant future.”
Sur La Table also known for its in-store cooking classes, which have also been discontinued because of local laws limiting indoor dining or gatherings.
CEO Jason Goldberger said the sale process “will result in a revitalized Sur La Table, positioned to thrive in a post Covid-19 retail environment.”
“Sur La Table will have a balance sheet and retail footprint optimized to position the company for a bright future that continues our nearly 50-year tradition of offering high-quality cooking products and experiences to our customers,” he added.
The company said its entered a “stalking horse” agreement with investment group Fortress for a minimum bid and possible purchaser.