Iron Hill Brewery & Restaurant chain files for Chapter 7 bankruptcy amidst potential class action lawsuit - Glenside Local
Iron Hill Brewery & Restaurant filed for Chapter 7 bankruptcy after closing 16 locations, facing $20 million in liabilities and a potential class action lawsuit.Summary
The Iron Hill Brewery & Restaurant chain has filed for Chapter 7 bankruptcy, signaling a complete shutdown and liquidation of assets, following the recent closure of 16 locations including its Huntingdon Valley branch. Unlike Chapter 11, which allows for restructuring, Chapter 7 means the company will cease operations. The company reported estimated assets of $164,581 against liabilities of $20 million, with a significant $17.3 million lien held by BankUnited.
A potential class action lawsuit has emerged, alleging a violation of the Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 days' notice before mass layoffs or closures. If found in violation, eligible employees could receive back pay and benefits for up to 60 days.
Pennsylvania Attorney General Dave Sunday advises customers with unused Iron Hill gift cards to dispute the charges with their credit card companies or file a complaint with the state’s Bureau of Consumer Protection.
(Source：Glenside Local)