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.

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