Bidders Fight Over Bankrupt Chicago Pizza Chain

After filing for Chapter 11 reorganization bankruptcy last year, a popular Chicago-based pizzeria chain already has some interested bidders.

Among them is a local owner who already has several restaurants in the city. Now that the company has successfully filed for Chapter 11 bankruptcy protection, the bidding process has begun and the competition is fierce. The latest bidder is very familiar with the pizza business and runs two successful pizza joints in Chicago. He will be up against serious competition from other bidders who are serious about taking over the popular pizza chain, keeping the stores open and running in their current locations.

The bidding is expected to start around $40 million even this amount is not enough to cover the debts accumulated by the pizza chain. The primary creditor listed on the Chapter 11 bankruptcy paperwork is owed $45 million alone.

Filing for business bankruptcy can be daunting. Instead of trying to file for this type of bankruptcy on your own, contact Bizar & Doyle, LLC now to enlist the services of a Chicago bankruptcy attorney that is ready and willing to help you get through the process.