More than a month after one of the Wilmington area’s most popular restaurant groups filed for bankruptcy protection, the restaurants are still open for guests. It’s a point that restaurateur Solange “Niki” Thompson wants to make clear.
On Oct. 4, she and her attorney filed petitions for six businesses at the North Carolina Eastern Bankruptcy Court for Chapter 11 bankruptcy. The purpose of the Chapter 11 designation is for debt reorganization that allows the businesses to stay open and repay creditors over time, according to the U.S. Courts. And that is her intention, Thompson said. She wants to continue to operate the restaurants for both her loyal customers and her employees.
Records show the restaurant group has up to 49 creditors with liabilities totaling less than $10 million, including several disputed and undisputed claims. One of the largest is a debt of $2.4 million to North State Bank. A Chapter 11 plan is expected to be filed in early 2025.