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
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.