India, Sept. 18 -- Shares of Meritage Hospitality Group Inc. (MHGU) are tanking about 93 percent on Friday morning, possibly after the company announced yesterday that it has voluntarily filed petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Michigan.
The company's stock is currently trading at $0.1330, down 92.67 percent, over the previous close of $1.65 on the OTC Markets. It has traded between $0.0935 and $11.12 in the past one year.
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