Asset Deal of the Week: Be Your Own Chef

Posted by Michael on August 21, 2014

Now that vacation season is in full swing, we thought we would highlight the sale of some business inventory assets of a restaurant this week. After all, who doesn't want to impress their friends and family with an authentic deli sandwich or grilled burger. You can read the entire sale motion for free and contact the seller to learn more about bidding on these assets or others that we have on our site for subscribers.

Restaurant Assets for Sale

Snippet from the Sale Motion
​On April 25, 2014, the Debtors filed their petition under Chapter 7 and thereafter the clerk appointed Allison D. Byman Chapter 7 Trustee to administer the assets of this bankruptcy estate.

Listed on the Debtors’ Schedule “B”, Personal Property at Item No. 28 [docket no. 1, page 18] is “Business Inventory” with a value of $62,690.00. An attachment detailing the “Business Inventory” was indicated to be attached to Debtors’ Schedule “B” but was inadvertently omitted. Counsel provided that inventory to the Trustee upon request. A list of the Business Inventory to be sold is attached hereto as Exhibit A. The Trustee also seeks to sell the tables, chairs and utensils that remained at Debtors’ business location at the time it was closed. These items together with the items on Exhibit A are referred to as “Business Inventory” throughout this pleading. Upon information and belief, a few of the assets listed as “Business Inventory” are actually fixture to the Debtor’s leased premises and will not be removed or sold by the Trustee. Those items are also indicated on the attached Exhibit A.

Debtors did not exempt the Business Inventory. Debtor’s Schedule “D” indicates that there are no liens against the Business Inventory. The Trustee is relying on the Debtor’s schedules in connection with this request to sell the Business Inventory.

The Trustee inspected the Business Inventory and thereafter notified Webster’s Auction Palace and requested that the Business Inventory be included in the next available auction. That auction is scheduled for Sunday, September 28, 2014 at 1:00 p.m. at Webster’s Auction Palace, 14463 Luthe Road, Houston, Texas 77039.

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