As Legal Sonar previously reported, Hostess Brands, Inc. the snack food maker and creator of the iconic Twinkie filed for Chapter 11 bankruptcy for the second time since 2009.
Now, Hostess has reported a $1.78m operating loss on net sales of $187.4m for a month ending on February 4th.
Reorganization expenses in the tune of $6.6m, combined with $2.4m in depreciation, contributed largely to the operating loss. The $2.6m of interest expenses also contributed to the net loss.
Formerly known as Kansas City [...]
Kansas City attorney Jim Wirken, of The Wirken Firm, represents Winntech Digital Systems (WDS), who recently closed doors and filed for Chapter 11 on January 30th claiming $1m to $10m in debts.
WDS designed and produced audio-visual displays.
In 2005, the company filed for Chapter 11, then represented by McDowell Rice Smith & Buchanan, PC.
Creditors waiting in line during the reorganization include Jackson County, Community First Bank, McDowell, Rice, Smith & Buchanan.
According to the Kansas City Business Journal: In 2000, Winntech Digital Systems Inc. claimed to be one of the fastest-growing companies in the Kansas City area, with [...]
Brooke Corp’s bankruptcy trustee alleges that Kutak attorneys allowed an unlawful prolongation of the company’s existence despite its knowledge of its insolvency.
The malpractice claim seeks $10 million against Kutak for Brooke Corp.
U.S. Bankruptcy Judge Dale Somers recently dismissed a claim against three underwriters also named as defendants.
According to the Kansas City Business Journal: More than $450 million in claims are pending [...]
GMJ Global Logistics, Inc., family owned and based in Kansas City, KS, filed Chapter 11 protection on January 16th with 10 other related companies when its lender sought to recover more than $10m in promissory notes.
GMJ is represented in bankruptcy matters by attorney Jonathan Margolies of McDowell Rich Smith & Buchanan PC.
Margolies boasts over 25 years of practice in commercial law and financial services.
According to the Kansas City Business Journal: GMJ indicated it has less than $50,000 in assets and between $10 million and $50 million in liabilities.
It owes $6.5 million on equipment [...]
Buffets, Inc., owner of seven Kansas City area restaurants, including HomeTown Buffet and Ryan’s, filed for Chapter 11 bankruptcy.
The Eagan, Minnesota based company expects to close 81 restaurants nationwide.
According to the Kansas City Business Journal: Other brands for the company’s 494 restaurants in 38 states include Old Country Buffet, Granny’s Buffet and Fire Mountain.
The underperforming locations to be erased from Buffets’ menu probably will be announced during the next week, a spokesman told [...]
Filling for Chapter 11 for the second time in a decade since 2009, the company will remain operational during its reorganization.
Formerly known as Kansas City parent company Interstate Bakeries Corp, Hostess moved to Ivring, Texas after its first Chapter 11 reorganization in 2009.
The company maintains an operations center in Kansas City with approximately 100 employees and a bakery in Lenexa among its assets in [...]