FAIRPORT, N.Y. — Flour City Bagels, which operates 32 Bruegger’s Bagels in Rochester, Syracuse and Albany, N.Y., on March 2 filed for Chapter 11 bankruptcy protection for reorganization in the U.S. Bankruptcy Court for the Western District of New York.
Flour City Bagels said it filed a voluntary petition for reorganization to enable the company to address “certain financial challenges” while continuing to operate its business. The Bruegger’s Bagels locations are expected to remain open as Flour City makes its way through the bankruptcy proceedings.
In the March 2 filing, Flour City said it has between 200 and 999 creditors, with estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million.
Flour City said it intends to use its cash flow to pay its expenses during the restructuring process.
