Bankruptcy of major Moe’s franchisee leaves retail leasing holes
A Moe’s Southwest Grill franchisee that operates over 50 locations has filed for bankruptcy and seeks to quickly end the leases at 16 locations, creating potential vacancies for shopping center landlords across Florida, Georgia and Virginia. Palm Beach-based Quality Fresca I petitioned for Chapter 11 reorganization Tuesday in the U.S. Bankruptcy Court for the Southern District of Florida in West Palm Beach, listing between $10 million and $50 million in liabilities, between $1 million and $10 million in assets and 200 to 999 creditors — which include multiple landlords. The petition was signed by G. Michael Verdisco, the company’s chief […]This article originally appeared on The Real Deal. Click here to read the full story.
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