Coeur d'Alene Perkins closes

The sign towering above Perkins Restaurant and Bakery in Coeur d'Alene and visible from Interstate 90 came crashing down on Friday - literally.

The sign was being taken down by a lift operator on Friday as the restaurant had just been closed, and the sign was dropped, shattering it into pieces.

The franchise restaurant location had been operating there more than 20 years, opening its doors for the first time on Aug. 15, 1988.

The restaurant, located at 290 W. Appleway Ave., closed officially on Thursday, and a notice posted on the front door tells customers that it's permanent.

"Closing this restaurant was an extremely difficult decision to make," said Nancy McDaniel, president of Lake City Pancakes Inc., and the franchisee. "The overall weakened economy and decreases in consumer spending patterns have taken their toll on this restaurant over the past several years. After careful and thorough consideration, we made the painful decision to close."

McDaniel said she was grateful to the community for years of business. She also thanked her 20 employees.

"We sincerely regret any inconvenience that this closure may cause and again offer our gratitude to those who supported us for such a long time," McDaniel said.

Separately, Perkins and Marie Callender's Inc., a leading operator of family-dining and casual-dining restaurants, announced Nov. 30 that the company had successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy.

The U.S. Bankruptcy Court for the District of Delaware approved the company's plan of reorganization on Oct. 31.

Joseph F. Trungale, chief executive officer of the company, said, "Our financial restructuring has significantly improved the company's balance sheet, eliminating over $200 million in debt, and optimized its operational structure. Perkins will emerge from this process a leaner and stronger company."

Perkins and Marie Callender's Inc. and 11 of its subsidiaries and affiliates filed for Chapter 11 protection in June.