(WVLT) -- Krystal, a major fast-food chain that began decades ago in Tennessee, has reportedly filed for bankruptcy.
WTVC reported that the company filed for Chapter 11 bankruptcy protection in Georgia on Sunday from their offices in Dunwoody, Georgia. According to CBS, the company reported debts of between $50 million and $100 million dollars.
"The actions we are taking are intended to enable Krystal to establish a stronger business for the future and to achieve a restructuring in a fast and efficient manner," the company said in a statement to Nation's Restaurant News Monday afternoon.
Despite the filing, the restaurant chain says all locations will operate business as usual.
Krystal has more than 80 locations in Tennessee and locations in many other states, including 106 in Georgia.
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