Daisy Baker’s Files for Bankruptcy Protection(fine-dining)
Posted by admin / Under Bakers Square
Daisy Baker’s, a fine-dining restaurant in downtown Troy, N.Y., has filed for Chapter 11 bankruptcy protection and will remain open as it reorganizes its debts. Jim Scully, president of Green Street Entertainment Corp., which owns the restaurant, said sales haven’t fully recovered from last year’s sharp downturn, when the recession especially hurt high-end restaurants nationwide. In past recessions, Daisy Baker’s could rely on short-term borrowing to make it through slow periods. But that’s not the case anymore. “We were always able to finance our operations to keep up with our seasonality, but banks stopped lending a couple years ago,” Scully...
Published on Tuesday 22nd of May 2012 06:37:54 PM
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