Uno Pizzeria Files Chapter 11 Bankruptcy
San Jose Bankruptcy Attorney talks pizza...
Pizza lovers in San Jose as well as San Jose Bankruptcy Attorneyshttp://www.bkanswers.com/lawyer-attorney-1402957.html may want to know that Boston based UNO’s has filed for Chapter 11 bankruptcy.
Our San Jose Bankruptcy Attorney noticed that the first Uno's opened in 1943 in Chicago. Spencer, the current chairman, opened the first Boston location in 1979 and started expanding the chain in the mid-1980s, according to the company Web site.
According to CBS news, a 2005 private equity takeover burdened Uno’s with debt and Uno’s parent company filed for Chapter 11 recently.
CBS news reports that privately owned Uno Restaurant Holdings Corp. said a majority of its bond holders had agreed to convert $142 million in senior secured debt into a 96 percent equity stake in the reorganized company. That conversion is part of a prearranged restructuring the company hopes a bankruptcy judge will approve.
Still, fear not pizza fans. CEO Frank Guidara said the company doesn’t expect the filing to disrupt the restaurants. In a statement made to the associated press Guidara was quoted as stating, “Our goal is to get on the other side of our balance sheet problem, and this is going to get us there."
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
