BANKRUPTCY LAWYER RESCUES FRENCH RESTAURANT

Bankruptcy lawyer rescues French restaurant. An upscale French restaurant in one of the most trendy places in the world ran into money problems. It had to file bankruptcy in order to survive. Sandrine’s is a top notch French restaurant located in Cambridge Mass. It is located in famous Harvard Square. The restaurant has run into money problems. Competition has heated up. The economy has gotten worse. That left the restaurant on the hook for losses of $200,000 this year. The restaurant used to be the hot place to eat in the area since it opened for business in 1996. The trend of healthy eating has not helped either as many view French food as too rich in calories. The restaurant’s debts grew to be more than $1.7 million. All options were explored. The bills just could not be paid. The owner was left with no choice. A knowledgeable bankruptcy attorney was consulted. There was only one way this famous eating spot could be rescued. A Chapter 11 bankruptcy case was filed.  The bankruptcy lawyer hopes the bankruptcy will not only wipe out the debt that cannot be paid. It will also allow a new owner to come in and revive the restaurant. There is already an offer to but the eatery. The proposed buyers run other popular eating establishments. They have made an offer to buy the restaurant for $580,000. Until that sale is finalized, the bankruptcy lawyer expects the restaurant to stay open for business. The bankruptcy attorney has asked the bankruptcy judge to make it clear the restaurant can continue to pay its sommelier throughout the bankruptcy case. The whole community is hoping the bankruptcy filing rescues this popular spot. Many customers have gone there for years. The employees of the eatery also have their jobs on the line. The bankruptcy case hopes to keep the French cuisine served in Harvard Square alive for many more years to come.