CB Holding Inc. the parent company of Northeast based Charlie Brown's Steak House restaurant chain filed for Chapter 11 bankruptcy protection. The Company also operates Bugaboo Creek Steak House and The Office Beer Bar & Grill restaurant chains which are also affected.
If you own a gift card for any of these restaurants, ScripSmart recommends you go out and used it soon.
According to a recent press release, the company has closed over half of it's restaurants. A total of 29 Charlie Brown's Steak House locations and 18 Bugaboo Creek Steak House. There were no closures for The Office Beer Bar & Grill brand. A total of 20 Charlie Brown’s Steakhouse, 12 Bugaboo Creek Steak House and 7 The Office Beer Bar & Grill restaurant locations remain in operation.
Gift Cards Still Accepted, But Not Sold
We called the Charlie Browns Steak House gift card line today and were told gift cards are not currently being sold; however, they are still accepting gift cards at all locations currently in operation.
Keep in mind, Chapter 11 bankruptcy protection indicates the company plans to continue operations and reorganize it's finances. While it's possible the company will make it out of financial trouble and continue operations as a healthier business, this is a red flag for consumers to go out and redeem any gift card issued by these three restaurants.
ScripSmart Accounts Can Help
We recommend using gift cards as soon as you receive them. For those who tend not to redeem gift cards right away, a ScripSmart Account can help give you a push and provide some extra protection from being stuck with a worthless gift card.
ScripSmart monitors the gift card landscape and if we hear of a company filing for bankruptcy or closing doors, we'll send you a heads-up via email. ScripSmart's alert system is just one of several benefits of a ScripSmart Account. Best of all, ScripSmart Accounts are easy, free and helpful; simply sign up and add the cards you own to your account. It's easy to reap the benefits of ScripSmart.
ScripSmart reached out to a CB Holding Inc. spokesperson and learned the company does not have an official gift card specific statement for consumers at this time.
CB Holding Inc. Press Release regarding bankruptcy here (.pdf)