NEW YORK -- Thai-owned luxury grocer and cafe Dean & DeLuca has filed for bankruptcy in the U.S., after the parent company's failed attempts to revive the chain amid growing competition in its native market.
The bankruptcy petition, filed in a New York court Tuesday and signed by Sorapoj Techakraisri, chief executive of Thai real estate group Pace Development, shows Dean & DeLuca has under $50 million in assets, while facing $275 million in debt, as shown in other court documents.
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