CHARLOTTE — Quantum Development Charlotte — parent to Cantina 1511 — is pursuing the sale of its restaurants as it navigates Chapter 11 bankruptcy protection.
Attorneys for the hospitality group sought — and gained — a continuance this week in the U.S. Bankruptcy Court’s Western District of North Carolina. That gives Quantum time to potentially line up buyers for its restaurants in Mooresville, south Charlotte’s Toringdon Circle and at Park Road Shopping Center.
“We’re in liquidation mode now,” R. Keith Johnson, Quantum’s attorney, told the court today.
The next bankruptcy hearing is scheduled for Dec. 14 with multiple motions to be heard. A decision will be rendered on Quantum’s amended reorganization plan. The court also will weigh in on a U.S. Bankruptcy Administrator’s motion to dismiss Quantum’s Chapter 11 case — or convert it to Chapter 7 liquidation.
(WATCH BELOW: Here’s what will replace a longtime Dilworth greenhouse that’s closing soon)
©2022 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
