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)
“Man cannot be free if he does not know that he is subject to necessity, because his freedom is always won in his never wholly successful attempts to liberate himself from necessity.”
—Hannah Arendt (1906–1975)