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:

  1. Motion to Pay Critical Trade Vendor Claims;
  2. Motion to Pay PACA/PASA Claims;  and
  3. 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.

ListedName of creditorNature 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
06  BIRITE Trade debt$775,912
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
26  ECOLAB Trade debt$138,493
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.