Abuelos Files Reorganization Plan, Emerges Stronger
Lubbock Daily News Now | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Abuelos, the Lubbock-based Mexican restaurant chain, has proposed a reorganization plan in bankruptcy court, aiming to emerge stronger. The plan involves new leadership, ownership, and debt conversion. Secured creditors will be fully repaid, while unsecured ones receive partial payouts. Current shareholders can buy super voting preferred stock or non-voting pay-in-kind shares. The chain, which entered bankruptcy last September, has thirteen locations across six states and continues to operate profitably. Creditors will review and vote on the plan before final court approval.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/fb7a4b2cf882183b