CHAPEL HILL (WTVD) --Chapel Hill specialty food retailer Southern Season has filed for Chapter 11 bankruptcy as part of a restructuring.
The foodie haven is still scheduled to open a new location in Asheville on July 1.
Brian Fauver, chief financial officer of the specialty foods store, said the current growth vehicle - reproducing the big-format store concept that saw success in Chapel Hill - just isn't translating in other markets, according to the Triangle Business Journal.
Southern Season has locations in Raleigh's Cameron Village, and in Charleston, S.C., in addition to the flagship Chapel Hill store.
The company said it has liabilities of about $18.9 million compared to about $9.8 million in assets.
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