Larger text
Smaller text
Print
E-mailDamon's chain in Chapter 11 bankruptcy
Five days after putting the Max & Erma's Inc. restaurant chain under Chapter 11 bankruptcy protection, Gary Reinert Sr. took the same step Wednesday with his Damon's International Inc. chain.
A filing in U.S. Bankruptcy Court in Pittsburgh said Damon's owes between $1 million and $10 million to between 199 and 1,000 creditors. The chain's assets are worth between $1 million and $10 million, the filing by Reinert's firm, G&R Acquisitions, shows.
Damon's, founded in 1979, has 50 locations in 15 states and the United Kingdom. Locally, restaurants are at The Waterfront in Homestead and in Monroeville and Collier; the Chapter 11 filing is a move to reorganize debts while the business continues to operate.
The largest unsecured creditor is listed as Southeast Capital, of Charlotte, N.C., owed $800,000.
More Business headlines
- Pennsylvania Brewing Co. one step closer to reopening
- Home sales in Pittsburgh region up 7.4 percent in October
- New eateries pick up slack
- Slow rise expected in home, vehicle sales
- Sale of utility in West Virginia hands
- Dick's Sporting Goods forecast below Street expectations
- Goodwill picks new facility
- Average Fidelity 401(k) continues to recover
