Restaurant owner in Plaza-Midwood sought bankruptcy protection

Posted on Wednesday, September 3rd, 2014 at 2:54 pm    

The owner of a well-known restaurant in Plaza-Midwood recently sought bankruptcy protection after its debt reached nearly $400,000, reported on August 14.

According to the Chapter 11 bankruptcy documents filed by Penguin Drive-In owner Lisa Ballentine, she has a debt of $375,000 owed to at least 19 creditors. The bulk of the debts were from unsettled taxes. A judge already released an eviction order for the restaurant due to an unpaid rent amounting to $17,579. In a statement by the restaurant’s legal counsel, the owner promises to re-open as soon as possible. Penguin Drive-In had been running for 60 years and was well known as a town staple.

The Raleigh lawyers of Bradford Law Offices, PLLC, work for business owners who are experiencing overwhelming debt. In this difficult situation, our lawyers may possibly offer you legal solutions to deal with your debt and continue with your business. Find out how we may advocate for you today by calling (919) 758-8879.