The operator of a Village Inn restaurant in Oldsmar, Florida, has filed for Chapter 11 bankruptcy protection after reporting more than $554,000 in liabilities, according to court filings obtained by FOX Business.

VI Oldsmar LLC filed its Chapter 11 petition in the U.S. Bankruptcy Court for the Middle District of Florida on Sept. 18, electing to proceed under Subchapter V, which is a streamlined bankruptcy process for qualifying small businesses.

Court filings show the company listed about $72,335 in assets and $554,076 in liabilities, with between one and 49 creditors.

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