Pashman Stein Walder Hayden P.C. Representing Vegan Restaurant Chain Planta in Ch. 11 Filing
Joseph C. Barsalona II, partner in Pashman Stein Walder Hayden P.C.’s Bankruptcy, Restructuring & Creditors’ Rights practice, was recently quoted in a Law360 article titled, “Vegan Restaurant Chain Planta Hits Ch. 11 With Sale Plans” in connection with the firm’s representation of the debtors and debtors in possession in their pending chapter 11 cases. The article discusses how the high-end vegan restaurant chain, which includes 18 affiliated entities, filed for Chapter 11 bankruptcy in Delaware with plans to sell the business through a section 363 sale process. CEO Steven Salm attributed the financial distress to pandemic-related losses, inflation, rising labor costs, and declining sales. The company is seeking debtor-in-possession financing to fund the sale process.
"The company looks forward to working with all parties in interest to reach a successful restructuring," said Joseph C. Barsalona II, one of the debtor's attorneys.
The debtor is represented by Joseph C. Barsalona II, Katherine R. Beilin and Michael J. Custer of Pashman Stein Walder Hayden P.C.
To read the full article in Law360, click here.