Bankruptcy, Closure and Sale Attempts
In 2002 Captain John's filed for bankruptcy, owing over $5 million to various creditors including $3 million to unsecured creditors. Letnik's bankruptcy proposal involved the repayment of all unsecured creditors owed $5000 or less and a repayment of no more than $30000 to all other unsecured creditors.
Read more about this topic: Captain John's Harbour Boat Restaurant
Famous quotes containing the words sale and/or attempts:
“[T]he dignity of parliament it seems can brook no opposition to it’s power. Strange that a set of men who have made sale of their virtue to the minister should yet talk of retaining dignity!”
—Thomas Jefferson (1743–1826)
“Society gains nothing whilst a man, not himself renovated, attempts to renovate things around him; he has become tediously good in some particular but negligent or narrow in the rest; and hypocrisy and vanity are often the disgusting result.”
—Ralph Waldo Emerson (1803–1882)