A multistate restaurant Chapter 11
Granite City Food & Brewery and four affiliates filed Chapter 11 cases in the U.S. Bankruptcy Court for the District of Minnesota on December 16, 2019. The cases were jointly administered under Case No. 19-43756 before Judge William J. Fisher.
The debtors operated Granite City restaurants in 13 states and Cadillac Ranch restaurants in four states. The proceedings brought together operating businesses, commercial locations, asset sales and creditor claims within a coordinated bankruptcy process.
Karl Johnson’s role
A May 22, 2020 court filing identifies Karl J. Johnson and James M. Jorissen of Taft Stettinius & Hollister LLP as counsel for the debtors. The filing concerns an objection to an administrative expense claim and documents Karl’s participation in the Chapter 11 proceedings.
This representation was part of Karl’s experience at a prior firm, before he joined MJB Law.
Court-approved restaurant asset sales
The Chapter 11 proceedings included a Section 363 auction for restaurant assets. According to the buyer’s SEC-filed financial statements, BBQ Acquisition, Inc. was selected as the successful bidder for Granite City assets at the February 11, 2020 auction.
The filing reports court approval at a February 21, 2020 hearing and a closing on March 9, 2020. The completed acquisition included 18 Granite City restaurants and the beer-production facility.
Business bankruptcy experience
A business bankruptcy can require coordinated decisions about operations, financing, commercial leases, asset sales and creditor claims. Granite City provides a documented example of Karl’s experience representing debtors in a Chapter 11 involving businesses operating across multiple states.
Karl is certified as a Business Bankruptcy Specialist by the American Board of Certification. His current practice at MJB Law includes Chapter 11 business bankruptcy, reorganization, Subchapter V and bankruptcy litigation.
Public filings and transaction records
In re Granite City Food & Brewery Ltd., et al. · U.S. Bankruptcy Court, District of Minnesota · Lead Case No. 19-43756.
- “Filed motion identifying debtor’s counsel (PDF, 21 pages)” — Docket No. 363, filed May 22, 2020. Page 2 describes the multistate operations; page 4 identifies Karl Johnson as counsel for the debtors. View the filing.
- “SEC-filed transaction disclosure” — Note 1 describes the auction, court approval and completed acquisition of 18 Granite City restaurants and the beer-production facility. View the disclosure.