Court Confirms Star Buffet’s Reorganization Plan
Star Buffet, Inc. announced that on December 17, 2012 the United States Bankruptcy Court for the District of Arizona entered an order confirming the company’s Second Amended Plan of Reorganization. The plan includes payment of 100% of the allowed claims for all creditors and retention of the company’s common stock.
Robert E. Wheaton, Star Buffet, Inc.’s president and CEO stated, “The bankruptcy court’s approval of our Plan of Reorganization is an important next step in a process to provide a solid foundation to grow the company for the benefit of our employees, customers, vendors, creditors and shareholders.”
Star Buffet, Inc. is a multi-concept restaurant operator. As of December 19, 2012, Star Buffet, Inc. through its subsidiaries, operated seven 4B’s restaurants, five JB’s restaurants, four K-BOB’S Steakhouses, three Barnhill’s Buffet restaurants, two Western Sizzlin restaurants, two JJ North’s Country Buffet restaurants, one Casa Bonita Mexican theme restaurant, one BuddyFreddys restaurant, one Pecos Diamond Steakhouse and one Bar-H Steakhouse.
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