Buzzbrews opened May 18 at 7 a.m.
BuzzBrews Kitchen, a Dallas-based restaurant chain, has filed for Chapter 7 bankruptcy, according to Dallas Business Journal.
BuzzBrews Kitchen, a mini-chain restaurant was established in 2005 and became well-known for serving all-day breakfast and other comfort dishes during late hours.
On Dec.11, the company filed for bankruptcy, three months after closing their Lakewood location in August following eight years of service.
Chapter 7 bankruptcy occurs when there is no alternative way to repay creditors. This can provide debtors relief by alleviating debt. Bankruptcy trustees will enter and sell all nonexempt property that isn’t protected in bankruptcy, with proceeds distributed to creditors, giving them a ‘clean slate.’
In the filings provided by BuzzBrews, estimated assets of up to $50,000 and liabilities of $500,000 to $1 million are estimated to be owed anywhere from 50 to 99 creditors, as reported by Dallas Business Journal.
At this time, it is unknown how the bankruptcy filing will affect the remaining locations in Deep Ellum and North Central Expressway. The BuzzBrews website is inaccessible for further details. No public statement has been released.
John Paul Stanford, an attorney with Quilling Selander Lownds Winslett and Moser PC representing BuzzBrews in bankruptcy court, has not responded to messages on the case.
