La Boulangerie, Híjole restaurants file for Ch. 11 bankruptcy
Local restaurants La Boulangerie and Híjole have filed for Chapter 11 bankruptcy protection in separate petitions filed at the U.S. Bankruptcy Court in San Juan.
La Boulangerie, which is owned by Tradition Francaise Inc. and is located in Santurce, cited $124,480 in debt, with the largest amounts owed to former employees Fernando Pérez-Oriols, who is owed $97,449, and Víctor Claudio, who has $12,535 pending.
The list of creditors includes LUMA Energy, which is owed slightly more than $2,000, and handyman Ariel Santana, who is owed $2,874.
Meanwhile, VHB Foods Corp. has filed Chapter 11 petitions for two locations, Híjole at the Barceloneta Outlets and the other on Isla Verde Avenue. The Barceloneta restaurant cites $1.3 million in debt, while the Carolina location owes a total of $723,966 to creditors.
The Híjole restaurant in Barceloneta names Ballester Hermanos ($13,212), HVP Food Corp. ($340,728) and BBB Food ($526,457) as its major creditors. The list includes Destilería Serrallés, Plaza Carolina, Cadillac Uniforms and B. Fernández & Hnos., although it does not specify the amounts owed.
As for Híjole in the Isla Verde tourist sector of Carolina, it owes $125,675 to B2B Funding; $34,107 to the Municipality of Carolina; $98,482 to the Puerto Rico Treasury Department; and $70,983 to Híjole Food Bistro, among others.
The U.S. Courts define Chapter 11 of the Bankruptcy Code as a provision for reorganization, typically for corporations or partnerships.
“A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11,” the court states.
