A Pennsylvania-based restaurant chain that recently expanded into the midstate has filed for bankruptcy and is expected to find new owners in early 2016.
Quaker Steak & Lube, which has locations in Cumberland and York counties, said it will be bought by TravelCenters of America LLC — also known as TA — for about $25 million. The offer came after the Sharon-based restaurant chain, known for its chicken wings and auto-themed decor, filed for bankruptcy Monday.
Quaker Steak has 50 locations in 16 states, including a Hampden Township location on the Carlisle Pike that opened in 2013 and a West Manchester Township location that opened in 2014.
Part of the acquisition agreement is that, after the closing, TA will offer employment to “substantially all” of Quaker Steak’s current employees, according to a news release.
Quaker Steak spokeswoman Rachel Tabacnic referred all questions to the company’s news release and the bankruptcy filing, neither of which includes the number of employees at the company or the number of employees at midstate locations.
Westlake, Ohio-based TA operates more than 500 restaurants, mostly in its 253 TA and Petro travel centers and 184 convenience stores. It has two midstate locations, both off Interstate 81, in West Hanover Township in Dauphin County and in Middlesex Township in Cumberland County.
Some of the existing TA and Petro restaurants will be converted to Quaker Steak locations, but the company has not announced which ones.
The sale agreement is contingent on approval from the bankruptcy court, which is expected to decide in early 2016, according to a news release.