In the continuing saga of the bankrupt Upper Crust pizza chain, more than 40 people are interested in bidding on the leases and assets of the ten Upper Crust locations that were closed last week. Some of the potential investors are interested in turning it into a non-profit or worker-owned business. The restaurant closures put 140 people out of jobs; meanwhile, the executives had apparently paid themselves a month in advance, according to Jenn Abelson, who has been covering the story for the Globe. The trustee handling the bankruptcy, Mark DeGiacomo, will file a motion next week to auction off the business.
Meanwhile, as previously reported, the franchise locations and the two locations that are separately owned in an LLC by founder Jordan Tobins (Coolidge Corner and Beacon Hill) are remaining open at this point. Tobins' attorney, Richard Mikels, told Wicked Local Brookline that the Brookline location is "operating quite normally."
Thousands of miles away from all the drama, there is apparently a growing set of franchise locations based in Kuwait as well. These appear to be operating as usual, charmingly serving pizzas with the same Boston-themed names as over here, like "The Harvard Street" and "The Mass General Hospital." Come to think of it, is a pizza that takes its name from a hospital all that appetizing?
And in one final twist (for now), Tobins himself, who has been "on leave" from the rest of the chain "since his co-owners accused him of misusing funds" is reportedly among potential bidders for the ten shuttered locations, according to Boston Business Journal.
· More than 40 potential bidders have expressed interest in Upper Crust [BG]
· Brookline Upper Crust Pizzeria to stay open [WL]
· 40+ potential bidders eye Upper Crust bankruptcy auction [BBJ]
· All coverage of Upper Crust on Eater [~EBOS~]