• Could Chapter 11 Deliver Giordano’s To Competitor?

    Already owning Gino’s East and Edwardo’s Natural Pizza, 62-year-old Jeff Himmel’s West Loop-based Bravo Restaurants Inc. will be among the parties interested in making a bid for Giordano’s Enterprises, the Chicago Tribune reported on September 9, 2011. The Chicago-based deep-dish pizza chain is going to be sold as part of its Chapter 11 reorganization in U.S. Bankruptcy Court after filing for bankruptcy last February.

    In addition to the Gino’s East and Edwardo’s restaurant chains, Bravo Restaurants also owns Ed Debevic’s. The Tribune reported that Giordano’s is expected to sell for at least $40 million, with the pizza chain’s main creditor, Fifth Third Bank, owed $45.5 million. The Apostolou family, who owned Giordano’s when it went into bankruptcy court, are also among the other interested bidders. John Apostolou lost control of Giordano’s in the bankruptcy, but his two sons own franchises in Chicago that are not part of the bankruptcy, according to the Tribune.

    You do not need to own a pizzeria to be involved in a messy financial situation. Whether you are seeking Chapter 13 or Chapter 7 bankruptcy information , our Chicago bankruptcy attorneys have decades of experience helping people fight foreclosures, stop wage garnishment and rebuild credit. If you are struggling through hard times and wondering if now is the time to seek help with a bankruptcy means test , contact our office today for a free consultation.

    Benjamin Brand Services – Chicago bankruptcy lawyers

  • Chicago Area’s Most Expensive Home Going To Auction

    A 26-room, 26,500-square-foot French-inspired chateau in Winnetka that has not found a buyer since being put up for sale in 2009 will go to auction, fully furnished, next month. The Chicago Tribune reported on September 8, 2011, that the home’s listing agent, Tim Salm of Jameson Sotheby’s International Realty, estimated that the cost of constructing and furnishing what he called the “trophy home of the North Shore” at $40 million.

    The house, owned by investment company CEO Sherwin Jarol and his wife, Deborah, was unofficially put up for sale in 2009 for $32 million, although it was officially listed and placed in the local multiple listing service with a $28 million asking price before being pulled from the market, according to the Tribune.

    Salm blamed the “sour economy” for the property’s failure to sell conventionally, but told the Tribune “international marketing of the auction will net a larger pool of prospective buyers” for the house, called Le Grand Reve. The auction will be conducted on October 29, 2011, without reserve.

    Homeowners of all types have been struggling to sell properties in this market, often leading to doubts that any real form of foreclosure help exists. Even if you are not looking to sell your house, but rather just to stop struggling through hard times, you can get deserved relief today by filing for bankruptcy . Whether a Chapter 13 or Chapter 7 process better suits your particular case, our Chicago bankruptcy attorneys can answer all of your questions and help end creditor harassment. If you have been thinking about filing a bankruptcy means test , you do not have to take these steps by yourself. Contact our office to set up a free initial consultation today that can help you get an affordable bankruptcy now.

    Benjamin Brand Services – Chicago bankruptcy lawyers