Depends on which chapter of bankruptcy they are seeking - reorganization or liquidation.

I think you will lose.

Worst service - the one by Spanish Springs Town Ctr

OH NO!! Tell me it isn't so! We always go to Toojays whenever we come down to TV.

Chapter 11 - reorganization.

Legal move to allow for some financial relief
 

Absolutely correct, bankruptcy is simply a way of saying "Please give me some room to breath while I get back on my feet, I think I can make this work out if you will just work with me"

That's one way to look at it, but if you are the one that lent them money, you hear something different. What lenders hear is, I want to keep my business open without paying back the money I borrowed from you and promised to pay back, with interest. Don't get me wrong, I feel bad for the businesses that are getting hit with forced closings and a weakened economy, but lenders are in business also. And if enough of the businesses they lent money to file for bankruptcy, they could also be forced into bankruptcy. Lenders seem to be viewed by many as the bad guys, but they are not.

We too have stop going there almost a year ago. They priced themselves right out of the market. They are a family style restaurant and their food is considered comfort foods. Not outstanding food but good comfort type foods. Pricing like they are a four star restaurant and not doing any couponing or other worthwhile discounts has hurt them. Not sure what type of bankruptcy the have file (reorganizational), but if they do continue to be in business they must rethink what will make their customers happy.

As tophcfa states, in financial transactions, there are always two sides, two opposing viewpoints, one the buyer/renter/borrower, and two the seller/landlord/lender. Borrowing money is the same as renting money, there is a monthly rental payment due. Buyers/renters and sellers/borrowers always have the opposite view.

The financial issue is always economic stability, the more the better, the less, the more difficult. The villages corp is in the same position as many, many other commercial real estate management companies. FirstCitizens bank and the state and county governments are also in the same position as many other banks, urban state and county governments around the country.

I am eager to see how the villages corp handles the retail situations. . . will they adapt and have a quick recovery? or be rigid, and have a hard time bouncing back. We are somewhat dependent on their choices. . . . a trade off we ALL made for the location and the amenities. . .

sportsguy

But most often it just passes the problem up the line.

For example, if their kitchen equipment is worth $200,000 but they owe $500,000 Chapter 11 court would likely allow them to reduce the principal and pay only on the lower amount.

Good for the filer, bad for the business that loaned them the money. That next level up could be a relatively small business that borrowed money to buy the equipment to sell on terms to TooJays. Now they won’t get paid enough to cover their expenses and might also go bankrupt if enough of their customers stop paying.

And on it goes to the next level up.

These will be VERY challenging times if the lockdown extends much longer.

Go on line and look up Katz's, NYC--& see what a real hand carved Jewish Deli sandwich should look like, put $$ out of the equation one is the real deal the sandwich Toojay's puts out is a third rate imitation

You're not a snob, if you had different experiences & know whats right

Think you are correct. Have seen many in my generation who have been paupers in retirement for the very same reasons.

I hope I'm wrong, but this is probably the first of many. And it won't just be restaurants. A lot of small businesses across the country won't be returning. I'm worried about the vendors from the farmers market, the market nights on the town squares, small retail shops and boutiques, salons, etc. And not just these businesses; how are the people they employed getting by? If governors are slow to re-open their states, we just wasted an enormous amount of stimulus and payroll protection money.

I surely agree with you about the Italian Bakeries.