New Delhi, April 16 -- The owner of the upscale steakhouse chain 801 Chophouse has filed for Chapter 11 bankruptcy protection, aiming to restructure its finances while continuing operations across its restaurant network, Des Moines Register reported.

Kansas-based 801 Restaurant Group filed for bankruptcy on April 10 in the US Bankruptcy Court for the District of Kansas, listing assets and liabilities in the range of $10 million to $50 million, according to PacerMonitor.

The Chapter 11 filing allows the company to reorganize its debts under court supervision rather than liquidate. This means the group intends to continue operating its restaurants, paying employees and serving customers while negotiating revised terms with creditors.

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