Just months after its board replaced the CEO, Austin sandwich shop franchisor, Schlotzsky's, filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code. In the bankruptcy filings, the company listed assets of $111.7 million, including $64.8 million in intangible assets, and liabilities of $71.3 million.
Posted by franchiselawblog at August 5, 2004 05:28 PM