Friday, March 06, 2020

WINSTEAD'S BANKRUPT!!!

A Kansas City restaurant juggernaut recently asked for some debt relief . . .

The basics:

"Winstead's Co. filed for voluntary Chapter 11 bankruptcy protection Feb. 24 in the District of Kansas . . . Winstead's listed assets ranging from $0 to $50,000 and debts ranging from $500,001 to $1,000,000. The filing did not identify a largest creditor."

More info here for subscribers:

Latest on Winstead's Co. and more - Kansas City Business Journal

Kansas City-area bankruptcy courts recorded three business filings - including zero with total debt exceeding $1 million - during the week that ended Feb. 28. Year to date through Feb. 28, the court recorded 11 Chapter 7 or Chapter 11 business bankruptcy filings, a 1,000% increase from the same span the prior year.

5 comments:

Anonymous said...

Pretty obvious Gail Beatty and crew put the plaza location out of business when they doubled the assessment (property taxes) on that place last year.

Frank and Gails gift that keeps on giving.

Anonymous said...

The funeral home is a tough competitor.

Anonymous said...

Winsteads failed due to Nabil Haddad. The guy was a bigger walking asshole than the Glazer brothers were. Everything Haddad has touched has failed.

Anonymous said...

How could a legend like Winsteads ever fail? The owner must have been very stupid. How could he run off all the thousands of customers? Just the name Winsteads had drawing power. I would like to meet Haddad someday to see if he can even tell me what month it is.

Anonymous said...

Someone should buy this biz that has the drive and appreciation for it. I think it would be profitable under better management. The Plaza location always seems busy, and if it were given a good scrubbing and cleanup on the inside it would probably be even busier.