Produce sellers among buffet chain creditors

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WATERMELON — F.O.B.S AS OF FEB. 13

MEXICO CROSSINGS THROUGH TEXAS — Crossings (85-71-77) — Movement expected about the same. Trading early fairly active, late moderate. Supplies light. Prices higher. Red-flesh seedless-type per-pound cartons 4-6s mostly 30 cents; 24-inch bins approximately 35, 45 and 60 counts mostly 28 cents. Quality generally good. Most present shipments from prior bookings and/or previous commitments at lower prices.

CENTRAL AMERICA IMPORTS — Imports (88*-108*-62, seedless 47*-79*-8; seeded 0-0-0) — Imports via boat from Guatemala, Honduras, Nicaragua. Movement expected to remain about the same. Ports of entry: south Florida. Trading active. Prices higher. Cartons flat red-flesh seedless miniature 6-9s mostly $15. Red-flesh seedless-type 65- to 69-pound cartons 3-6s 32-33 cents per pound. Quality good. *revised.

MEXICO CROSSINGS THROUGH NOGALES, ARIZ. — Crossings (35-31-20, seedless 33-31-20, seeded 2-0-0) — Movement expected about the same. Trading active for very light supplies. Prices much higher. Red-flesh seedless-type cartons per-pound 4-5s mostly 34 cents, 6s 30-34 cents. Quality variable.

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Home > News > Produce sellers among buffet chain creditors

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Produce sellers among buffet chain creditors

01/27/2012 2:52:18 PM
Andy Nelson

The country’s largest steak-buffet restaurant holding company has declared bankruptcy, and many produce distributors are among its creditors.

But an attorney for some of those distributors said that under the terms of Buffets Inc.’s Chapter 11 filing, all creditors will be paid in full.

Eagan, Minn.-based Buffets Inc. filed Jan. 16 in U.S. Bankruptcy Court in Delaware. In a Jan. 18 news release, the company said it will close 81 of its 494 restaurants.

The company’s restaurants include Home Town Buffet, Old Country Buffet, Roadhouse Grille, Tahoe Joe’s and other buffet chains.

Buffets Inc.’s 40 largest creditors include produce and broadline food distributors. They are owed between $61,000 and $1.2 million.

Among the biggest creditors are Sysco Corp. ($716,000); Pocono Produce Co. Inc. ($646,000); Sunrise Produce ($589,000); American Foodservice ($504,000); and Piazza Produce ($380,000).

Naples, Fla.-based attorney Larry Meuers, who represents some of the creditors, said Buffets Inc. filed a motion with the court that will enable it to pay all of its Perishable Agricultural Commodities Act claims in full. Non-produce creditors will be paid under a “critical vendor” motion, Meuers said.

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Produce sellers among buffet chain creditors

01/27/2012 2:52:18 PMAndy Nelson

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01/27/2012 2:52:18 PM
Andy Nelson