Upper Crust Pizzeria Files for Bankruptcy Protection
The chain of gourmet pizza restaurants, including a Lexington location, filed for bankruptcy and reportedly owes $3.4 million to creditors.
The Upper Crust Pizzeria chain has filed for bankruptcy protection after defaulting on millions of dollars in loans, according to the Boston Globe. The embattled gourmet pizza chain was ordered by the Federal Labor officials to pay overtime to employees, and has been accused of improper use of assests for personal use by executives, and recently shut down some locations, including the Waltham restaurant. The Boston-based company defaulted on a loan to TD Bank in September, and owes $3.4 million to creditors, according to the Globe story. The list of creditors to which chain reportedly owe money, according to documents filed in federal bankruptcy court, includes former attorney general Thomas F. Reilly of Watertown who is owed nearly $230,…
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Joe Slack
6:11 pm on Tuesday, October 9, 2012
As always, uc is looking for a bailout. Feel sorry for the hard working employees. more ›