Most Upper Crust Restaurants Are Abruptly Closed
BOSTON (CBS) - Most Upper Crust restaurants were abruptly closed on Tuesday. The move comes just days after a trustee was appointed to oversee the bankruptcy filing of the company. The decision leaves 170 people without work.
WBZ NewsRadio 1030's Anthony Silva reports
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The trustee, bankruptcy attorney Mark DeGiacomo, tells me that upper management of Upper Crust apparently paid themselves in advance of the filing. He says that left the company with about $10,000 over the last few days.
DeGiacomo says his focus now is to try to maximize return for creditors. He says re-opening the restaurants should help, but if that's not possible, then the locations will be sold.
Upper Crust is deep in debt, and owes more than $3.5 million to a list of creditors, including TD Bank, food wholesalers and a construction company.
The Brookline and Beacon Hill locations of Upper Crust remain open. They are operated separately and are not part of the bankruptcy filing.
