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The Next Idea informs us about Roscoe’s filing its exit plan from Chapter 11. - https://goo.gl/uzEevy

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roscoe s files its exit plan from chapter 11

Roscoe’s Files its Exit Plan

from Chapter11

Under Chapter 11 management by The Next

Idea,

Restaurant

Management Group In Partnership with

Restaurant Finance Group, Triple Enterprises;

reporting into court appointed Trustee,

Roscoe’s parent company, East Coast Foods

filed a repayment plan that returns the bankrupt

business to its owner and repays all creditors in

full.

Consulting

And

this is a very unusual and favorable outcome

This is a very unusual and favorable outcome

for a Chapter 11 business, and is a direct result

of the operational improvements and financial

controls installed by The Next Idea and Triple

Enterprise teams.

The result was an ability to show the long-term

profitability of the business with a higher than

market average cash flow, and thus an ability to

repay the entire debt over a reasonable

timeframe.

We are delighted to see such a positive result

for Roscoe’s and wish them well as they

emerge from bankruptcy.

This case demonstrates that it is always

possible to turn around a troubled business and

emerge without negatively impacting jobs,

suppliers or customers.

https la eater com 2018 1 23 16924176 ros coes

https://la.eater.com/2018/1/23/16924176/ros

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