Bankruptcy of major Moe’s franchisee leaves retail leasing holes

A Moe’s Southwest Grill franchisee that operates over 50 locations has filed for bankruptcy and seeks to quickly end the leases at 16 locations, ​​creating potential vacancies for shopping center landlords across Florida, Georgia and Virginia. Palm Beach-based Quality Fresca I petitioned for Chapter 11 reorganization Tuesday in the U.S. Bankruptcy Court for the Southern District of Florida in West Palm Beach, listing between $10 million and $50 million in liabilities, between $1 million and $10 million in assets and 200 to 999 creditors — which include multiple landlords. The petition was signed by G. Michael Verdisco, the company’s chief […]

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