Toad's Place Files for Chapter 7 Bankruptcy Protection

Richmond, Virginia.  On June 1, 2009, Toad’s Place of Richmond LLC filed for Chapter 7 in U.S. Bankruptcy Court.  The case was assigned to Chief Judge Douglas Tice.  The club closed in March when the landlord locked it out of the venue as it was four or five months behind on its $40,000 rent.

 

Per the company’s Chapter 7 bankruptcy petition, it has between 100 and 199 creditors, under $50,000 in assets, and owes creditors between $500,001 and $1 million.

 

Toad’s Place is represented in bankruptcy by Keith Phillips of the law firm of Phillips and Fleckenstein.

 

Having filed for Chapter 7 bankruptcy, the Bankruptcy Court will oversee the liquidation of the assets of Toad’s Place to satisfy its creditors.