Snuffers Greenville Ave - RIP

[Digetydog]

https://twitter.com/pw_rst/e/1349560350 ... ce=resetpw

Since they are in bankruptcy, I wouldn't hold my breath waiting for the rebuild.

[couch 'em]

They are demolishing to build a new building according to the article about their bankruptcy. Apparently they are keeping two locations

[RGV Pony]

So Addison and Greenville post rebuild ? How about Preston NW Hwy, Plano and Southlake ?

[couch 'em]

Article I read said Greenville and Plano. All others sold, possibly as franchises

[Digetydog]

They are demolishing to build a new building according to the article about their bankruptcy. Apparently they are keeping two locations

#skeptical

[untitled]

They are demolishing to build a new building according to the article about their bankruptcy. Apparently they are keeping two locations

#skeptical

They are rebuilding it:

http://www.pegasusnews.com/news/2013/ap ... ming-back/

[soccermom]

when I thought it was closing....loved that place and hope they can make it

[Peruna_Ate_My_Rolex]

One of the supposed reason was that the building wasn't ADA compliant. However, I suspect that doing the rebuild during the bankruptcy filing might have been part of the plan. The sad thing about this is that the ownership didn't bother to tell their employees that they were closing that location until after closing on Easter Sunday. They were all relocated to other restaurants but not until after a week or so of closing.

[RGV Pony]

So Old Building =old entity filed bankruptcy; new building = new entity new $ no encumberance ? Is that doable without getting tagged w a fraudulent transfer?

[mrydel]

So Old Building =old entity filed bankruptcy; new building = new entity new $ no encumberance ? Is that doable without getting tagged w a fraudulent transfer?

Might depend on the cost of the building permit or the amount of campaign contribution.

[untitled]

Apparently the Greenville and Plano locations were not part of the bankruptcy:

http://lakewood.advocatemag.com/2013/04 ... -snuffers/

[Digetydog]

So Old Building =old entity filed bankruptcy; new building = new entity new $ no encumberance ? Is that doable without getting tagged w a fraudulent transfer?

If the owners had decent lawyers, the locations were probably seperate legal entities with their own assets and liabilities. If all the legal requirements are followed, it is possible that the stink of the bad properties won't impact the good properties. Nevertheless, I think most bankers would view the bankruptcies as an enormous red flag and I am skeptical that any banker would finance a new building for a restaurant chain of that size that just had 2 locations file for bankruptcy.

[BigT3x]

I know it's an SMU institution, but anyone else think Snuffer's is gross? Corporate chain food without the corporation.

[Junior]

I know it's an SMU institution, but anyone else think Snuffer's is gross? Corporate chain food without the corporation.

no

[CalallenStang]

I know it's an SMU institution, but anyone else think Snuffer's is gross? Corporate chain food without the corporation.

There is no corporate chain where you can get those cheese fries. You're crazy.