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Fast Food Restaurants in Michigan
Listing Information
Attachments
Fast Food Restaurants in Michigan
Price: Not Specified
Other Item Info
Item #: miebke_766126
Created: 04/09/2014
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Southfield, Michigan
Sale Date: Thu. May 29, 2014
Primary Office Location: 49714 Grand River Avenue, Wixom, MI 48393
Created: 04/09/2014
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Southfield, Michigan
Sale Date: Thu. May 29, 2014
Primary Office Location: 49714 Grand River Avenue, Wixom, MI 48393
Seller Info
Jay L Welford
Debtor's Attorney
27777 Franklin Road Suite 2500
Southfield, MI 48034
248-351-3000
Debtor's Attorney
27777 Franklin Road Suite 2500
Southfield, MI 48034
248-351-3000
Bankruptcy Info
Case #: 2:13-bk-55132
Case Title: Raheel Foods, Inc., a Michigan corporation
Court: Michigan Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Raheel Foods, Inc., a Michigan corporation
Court: Michigan Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of Stores and Business of Raheel Foods, Inc. The Stores and the operations of the Stores (the "Business") associated solely with the Seller's restaurants located at 49714 Grand River, Wixom, MI 48393 and 4605 S. Telegraph, Dearborn Heights, MI 48125. The Sale includes any leases and executory contracts, including the existing Limited Term Successor Franchise Agreements between the Raheel Foods, Inc. and KFC (the "Limited Franchise Agreements") and the existing leases between the Raheel Foods, Inc. and its landlords related to each of the Stores (the "Leases").
The Raheel Foods, Inc. is a franchisee of KFC Corporation operating 6 Kentucky Fried Chicken brand fast food restaurants in Michigan, with one being co-branded as an A&W restaurant.
Financial Overview
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Asset and Liability Summary ($)
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Sale Location
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Southfield, MI, 48034
Additional Details
Auction Time - May 23, 2014 @10:00 a.m.
Bid Deadline - May 16, 2014, at 5:00 p.m.
Bid Deposit Amount - 10% of the purchase price
First Incremental Bid - $50,000
Bid Increament Amount - $25,000
Last date to respond - 3 business days prior to the Sale Hearing
Sale Hearing - May 29, 2014
The Sale Price of the property is $510,000 plus: (a) Petty Cash at face value; plus (b) the cost of inventory at current wholesale prices on hand.