Buffets, Inc. and 15 associated debtorsFN1 (the “Debtors”) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on January 18, 2012 in the Bankruptcy Court for the District of Delaware (Case No. 12-10237). The Honorable Mary F. Walrath has been assigned to the case. This initial note provides the Debtors’ consolidated list of their 40 largest unsecured creditors.
Landlords look to take a beating in this bankruptcy, but for many other general trade creditors it does not look too bad. The Debtors filed 3 first day motions for the Bankruptcy Court to authorize, but not require, the Debtors to make payments of certain prepetition trade creditor claims:
- Motion to Pay Critical Trade Vendor Claims;
- Motion to Pay PACA/PASA Claims; and
- Motion For An Order Pursuant To Sections 105(a), 503(b), And 507(a) Of The Bankruptcy Code Authorizing Debtors To Pay Certain Prepetition Claims Of Suppliers And Vendors Of Goods Entitled To Administrative Priority.
First day motions and other filings are available on the site for the Buffets Restaurants Holdings bankruptcy being maintained by the claims agent, Epiq Systems.
The Debtors' Consolidated List of Holders of Largest Unsecured Claims
The Debtors' have requested authority to file a consolidated list of the holders of the Debtors' largest unsecured claims in lieu of a separate list for each of the Debtors. The consolidated list is set forth below. The Debtors' list did not identify any claims that were “Contingent, unliquidated, disputed, or subject to setoff”. Accordingly that column is omitted.
|Listed||Name of creditor||Nature of claim |
(trade debt, bank loan,
government contract, etc.)
|Amount of claim|
if secured, also the
value of the security
|01||MCDONALD WHOLESALE CO||Trade debt||$1,239,349|
|02||SALADINO'S INC||Trade debt||$879,948|
|03||WB DONER AND COMPANY||Trade debt||$855,017|
|04||VAN EERDEN DISTRIBUTION CO||Trade debt||$828,141|
|05||INSTITUTION FOOD HOUSE INC||Trade debt||$782,359|
|07||MERCHANTS FOODSERVICE||Trade debt||$729,859|
|08||SYSCO FOOD SERVICE||Trade debt||$715,678|
|09||POCONO PRODUCE CO INC||Trade debt||$645,796|
|10||SUNRISE PRODUCE||Trade debt||$588,617|
|11||AMERICAN FOODSERVICE||Trade debt||$504,363|
|12||PIAZZA PRODUCE||Trade debt||$380,331|
|13||DAYLIGHT FOODS INC||Trade debt||$378,079|
|14||GLAZIER FOODS COMPANY||Trade debt||$370,061|
|15||HARTFORD SPECIALITYFN2||Trade debt||$63,521|
|16||SOUTHERN FOODS INC||Trade debt||$274,504|
|17||UPPER LAKES FOODS INC||Trade debt||$259,113|
|18||SHAMROCK FOODS CO||Trade debt||$246,128|
|19||ORACLE AMERICA INC||Trade debt||$244,575|
|20||EDWARD DON COMPANY||Trade debt||$209,396|
|21||ICEE COMPANY||Trade debt||$193,671|
|22||ROYAL CUP INC||Trade debt||$184,102|
|23||HERITAGE SERVICE GROUP||Trade debt||$163,158|
|24||BIX PRODUCE CO||Trade debt||$148,443|
|25||DUCK DELIVERY PRODUCE INC||Trade debt||$143,660|
|27||CRUNCHTIME! INFORMATIONS SYSTEMS INC||Trade debt||$135,957|
|28||PHOENIX WHOLESALE FOOD SERVICE||Trade debt||$135,850|
|29||TRACY LOCKE||Trade debt||$134,791|
|30||FRESEPOINT TURLOCK||Trade debt||$127,677|
|31||SIMPLEXGRINN ELL LP||Trade debt||$110,074|
|32||YANCEYS FOOD SERVICE SUPPLIER||Trade debt||$96,011|
|33||REALTY INCOME CORPORATION||Trade debt||$90,620|
|34||SIRNA & SONS MAINLINE PRODUCE||Trade debt||$89,516|
|35||MCCARTNEY PRODUCE||Trade debt||$81,692|
|36||J AMBROGI FOOD DISTRIBUTION IN||Trade debt||$75,340|
|37||CINTAS CORP||Trade debt||$72,912|
|38||SYSCO CORPORATION - ST LOUIS||Trade debt||$70,523|
|39||KEANY PRODUCE CO||Trade debt||$65,713|
|40||NEXUS INFORMATION SYSTEMS||Trade debt||$61,131|
The list does not include: (1) persons who come within the definition of “insider”); or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the largest unsecured claims.
Bankruptcy Rule 1007(d) provides that a debtor shall file “a list containing the name, address and claim of the creditors that hold the 20 largest unsecured claims, excluding insiders.” Fed. R. Bankr. P. 1007(d). In the case of a multi-debtor filing, it is likely that many creditors are shared among certain of the debtors. This is especially the case where the debtors operate as a single business enterprise. Under these circumstances and provided that there is a request for joint administration, it is common for multiple, related debtors to request authority to file a single, consolidated list of their collective largest general unsecured creditors. These requests usually are granted by the bankruptcy court.
The Top Unsecured Creditor List is never to be considered a waiver of any defense to or “allowability” of a listed claim or an admission of the amount of any listed claim. It is common for the amount of the claims to shift and sometimes a claim that is initially is undisputed is later disputed. Creditors should always consult the official claims register.
FN1Buffets Franchise Holdings, LLC; Buffets Holdings, Inc.; Buffets Leasing Company, LLC; Buffets, Inc.; Fire Mountain Leasing Company, LLC; Fire Mountain Restaurants, LLC; Hometown Buffet, Inc.; Hometown Leasing Company, LLC; OCB Leasing Company, LLC; OCB Purchasing Co.; OCB Restaurant Company, LLC; Ryan’s Restaurant Group, Inc.; Ryan’s Restaurant Leasing Company, LLC; Tahoe Joe’s Leasing Company, LLC; Tahoe Joe’s, Inc.
FN2 Hartford Speciality out of sequence by claim size on Debtors’ filing.