Complex sentence: On January 18,2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again, and the immediate closure of 81 restaurants throughout the country and was recapitalizing in an agreement with its lenders that will convert debt into a controlling equity stake.
Split into simpler sentences: On January 18,2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again. This involved the immediate closure of 81 restaurants throughout the country and recapitalizing in an agreement with its lenders that would convert debt into a controlling equity stake.