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Non-Tech : BGLS (Manhattan Bagel Company)
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To: Will Cunningham who wrote ()11/14/1997 11:35:00 AM
From: Jon Stept  Read Replies (2) of 194
 
Tom- Contemplating bankruptcy.....

for protection against creditors as they are in default. They can also sell assets. I wonder... what about all those store owners who got into these "special" loan programs with special financing from headquarters? If the store owners can't meet their own loan payments because their loan partner can't pay, then the store goes too? Or, do they run as an independent and get their dough from somewhere else.

Wonder how ugly it has to get before it becomes attractive to financers who can do a turnaround on large discounts to original dollars invested. It would be helpful to have their financial and cashflow information, detailed status of relations with creditors and the financial status of each store.

Do you think someone else might pick them up?

Jon :)
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