Home » NEWS » Manufacturing » Schimmel’s Restaurant bankrupt, looking for buyer

Schimmel’s Restaurant bankrupt, looking for buyer

Schimmel’s Restaurant LLC at 2615 North State Street in Jackson filed for bankruptcy in May 2009, and is now looking for a buyer and asking the court to approve a procedure for competitive bidding.

In December, the U.S. trustee, joined by Regions Bank, filed a motion to convert the case to Chapter 7. The court has given the debtor until April 25 to confirm a Chapter 11 plan. The restaurant has between $1,000,000 and $10,000,000 in assets, and between $500,000 and $1,000,000 in liabilities, according to court records.

Schimmel’s filed a motion Feb. 4 to employ Shari M. Lackey-Culver as broker. The restaurant is currently in operation.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Amy McCullough

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*