SANTA ROSA – Daphne’s Greek Cafe, which had a location in Santa Rosa, will emerge from Chapter 11 through a sale of substantially all of its operating assets to a new holding company formed by Trefethen Advisors LLC. Trefethen will acquire the assets and assume certain liabilities. The transaction is expected to close early this month, subject to closing conditions and approval by the bankruptcy court.

William Trefethen, managing partner of Trefethen Advisors, will assume the role of CEO of Daphne's. Daphne's has more than 1,000 employees at its locations across the U.S.

CORRECTION, Aug. 2, 2010: Daphne's Greek Cafe closed its Santa Rosa location.