P.F. Chang’s Bistro Is Exploring a Sale
- Private equity owner’s 2012 deal valued chain at $1.1 billion
- BofA Merrill Lynch, Barclays hired to look into potential sale
A P.F. Chang's restaurant in Schaumburg, Illinois, U.S.
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Chinese restaurant chain P.F. Chang’s Bistro, burdened with a heavy debt load and fierce industry competition, may be headed to the auction block, private equity owner Centerbridge Partners LP said.
Centerbridge bought the brand and took it private in 2012. The firm recently completed P.F. Chang’s split from Pei Wei Asian Diner, a separate restaurant chain that had been operated by the parent company.