Shooters Will Remain Open Despite Chapter 7 Bankruptcy
|Shooters is staying alive.|
About a month later, Shooters owner John Wile filed for personal Chapter 11 bankruptcy protection.
Chapter 11 bankruptcy protection allows a company, or person, to restructure debt with the help of a trustee appointed by the court. Debts are generally not forgiven, but a company is usually allowed to continue to operate, with the goal of becoming financially healthy in the future.
We recently learned that Chapter 11 filings for Roscoe, LLC and BIMA, LLC have been converted to Chapter 7 filings on July 10, which usually signifies a liquidation of assets in order to pay debts. We did not confirm the status of the John Wile's personal bankruptcy.
But fans of the waterfront restaurant's food, drinks, and hot body contests need not panic. According to Shooters' controller Lauren DaVila, the restaurant will continue to operate, despite the Chapter 7 bankruptcy. According to DaVila, the court wants the iconic restaurant to stay open, but with a trustee monitoring the operations.
Whatever the financial logistics of the restaurant that's been operating since 1982, boaters will continue to tie up at the establishment's dock on weekends for a cold beer and a bite.
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