The Krystal Company has filed for Chapter 11 bankruptcy. The company is indicating debts between $50 and $100 million dollars. In the last couple of years, the south’s oldest fast food chain had begun trying a new, smaller restaurant model. Krystal operates more than 300 restaurants in nine states. The company was originally founded in Chattanooga in 1932. There are several Krystal locations in the coverage area including in Crossville and in Roane County.