YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Calls to the Springfield Steak & Ale location, 1935 S. Glenstone Ave., and the corporate offices of Metromedia Restaurant Group went unanswered Wednesday. There was no sign posted about the closure at the Springfield restaurant this morning, but the lights were dimmed and the building’s parking lot was empty.
The bankruptcy filing for the Texas-based company, a subsidiary of Metromedia Restaurant Group, listed assets of less than $50 million and liabilities of between $50 million and $100 million.
A Chapter 7 bankruptcy allows for liquidation of assets so that proceeds from that liquidation can be used to pay creditors. S&A’s bankruptcy filing, filed in U.S. Bankruptcy Court for the Eastern District of Texas, notes that the company has up to 49 creditors. It also notes that there will be no funds available for unsecured creditors.
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