Roscoe’s Chicken and Waffles Goes Bankrupt?

For 40 years, Los Angeles-based restaurant chain Roscoe’s Chicken and Waffles has been a brand synonymous with soul food. But financial troubles may mean they’ll take their last order to go.

The chain’s parent company filed for Chapter 11 bankruptcy protection, CBS Los Angeles reported Monday. Despite the filing, it does not necessarily mean Roscoe’s is frying it’s last bird. The bankruptcy is buying enough time to restructure debts that it owes.

One of the major debts is from the loss of a lawsuit by a former employee, Daniel Beasley, a Compton, Calif., man who sued Roscoes for racial discrimination and wrongful termination.  The company was ordered to pay $1.6 million in damages.  A lawyer for Beasley told the Orange County Register the lawsuit could have been settled for less.

Roscoes operates seven restaurants in Southern California. It was opened in 1975 by Harlem native Herb Hudson.