at 10050 Riverside Dr. in Toluca Lake will be replaced next year by a Chase Bank branch, according to a report in the Los Angeles Business Journal.
According to the report, the bank paid $4 million for the property. The decision to sell the property may be related to the fact that the Memphis-based Perkins & Marie Callender’s Inc., which operates the chain of restaurants, filed for Chapter 11 bankruptcy in June, according to the Orange County Register. The announcement in June came with the sudden closing of 58 restaurants, including 31 Marie Callender's. The closures were so sudden, some diners were forced to leave while they were still eating, according to the Register.