UPDATE 1-Uno Restaurant disclosure statement confirmed

* Plan now goes to vote by stakeholders

* Confirmation hearing scheduled for June 21

* General unsecured creditors get no distribution
(Adds details about unsecured creditors and voting deadline)

NEW YORK, May 12 (BestGrowthStock) – A U.S. bankruptcy judge has
confirmed bankrupt Uno Restaurant Holdings Corp’s [UNORH.UL]
disclosure statement, which calls for senior lenders to take
over company ownership, according to court documents.

Company stakeholders will now vote on the proposals and
their decisions are due by June 14.

If supported by lenders, senior secured noteholders will
own 100 percent of the new common stock of the company,
according to the plan filed in New York bankruptcy court on

General unsecured creditors will not be repaid by the
bankrupt company, but the majority noteholder group has agreed
to buy some claims for 10 percent on the dollar.

Uno Restaurant Holdings, the parent of the Uno Chicago
Grill pizza chain had already received support from lenders for
a pre-negotiated reorganization plan before filing for
bankruptcy in January.

Uno said in court documents it invented the Chicago-style
deep-dish pizza in its original Pizzeria Uno restaurant in
Chicago in 1943.

The company expects to emerge from bankruptcy with 90
full-service, company-owned restaurants and 77 franchised
locations. Uno forecast restaurant sales of $221 million in
fiscal 2010, falling to $213 million the following year due to
closing some locations.

Sales are expected to rise to about $276.6 million in 2014,
according to court documents.

The confirmation hearing is scheduled for June 21 before
U.S. Bankruptcy Judge Martin Glenn.

The case is In re: Uno Restaurant Holdings Corp, U.S.
Bankruptcy Court, Southern District of New York (Manhattan),
No. 10-10209.

Stock Today
(Reporting by Chelsea Emery; Editing by Tim Dobbyn and Maureen

UPDATE 1-Uno Restaurant disclosure statement confirmed