Latest news with #Sticky'sChickenJoint
Yahoo
a day ago
- Business
- Yahoo
Popular Eastern fried chicken chain fights bankruptcy to stay open
A beloved fried chicken chain based on the East Coast is struggling to keep its doors open. Sticky's, formerly known as Sticky's Chicken Joint, launched in 2012 and became famous in New York and New Jersey for its farm-raised, antibiotic-free chicken with a variety of sauces such as 'Thai Sweet Chili' and 'Caribbean Sweet Heat.' Operating 12 locations across New York and New Jersey, the restaurant chain filed for Chapter 11 bankruptcy in April 2024 in a bid to cut its debts. The filing for bankruptcy was largely due to the severe impact of the COVID-19 pandemic, as Sticky's heavily relied on New York City foot traffic and has since had a hard time bouncing back, Mens Journal wrote. As a potential resolution, Sticky's received a $2 million cash offer from Harker Palmer Investors. The deal would involve the investors purchasing the chain, taking responsibility for some of its debts and preventing Sticky's from moving Chapter 11 bankruptcy into Chapter 7 liquidation, Food Republic wrote. However, the restaurant is still actively seeking approval for a new Chapter 11 bankruptcy plan. The proposed sale received pushback from the Justice Department's bankruptcy watchdog, the U.S. Trustee, claiming the deal would give Palmer 'too much legal protection if the company were sued in the future,' according to the Daily Mail. Sticky's warned last week that it would be forced into Chapter 7 liquidation, causing the shutdown of all stores and leaving creditors empty-handed if the sale is not approved. Read the original article on MassLive.
Yahoo
3 days ago
- Business
- Yahoo
Beloved Fried Chicken Chain Warns of Closing All Locations
If you've ever traveled to the New York area in recent years, there's a chance that you've enjoyed Sticky's – a unique and iconic New York fried chicken spot. But recent events could force the beloved New York chain to close all locations. Sticky's Chicken Joint is a beloved New York fried chicken chain with 12 locations throughout the area. Launched in 2012, Sticky's quickly became a beloved fast-casual hot spot with its farm-raised, antibiotic-free chicken and several unique sauce flavors. However, despite its popularity, the chain was hit hard by the COVID-19 pandemic due to its dependence on New York foot traffic and had a hard time bouncing back. Ultimately, Sticky's filed for Chapter 11 bankruptcy in April of last year to help cut its debts and chart a path forward. However, it sounds like the beloved chain has run into some issues. Sticky's has received a $2 million cash offer from Harker Palmer Investors, who would purchase the chain and take responsibility for some of its debts. However, the U.S. Trustee – the Justice Department's bankruptcy watchdog – is pushing back against the deal. U.S. Trustee claims that the deal would give Harker Palmer too much legal protection if the company were ever sued in the future, complicating the sale process. Harker Palmer has since revised the terms of the agreement in an attempt to satisfy the government watchdog. If that does not work, Sticky's has issued an ominous warning about its future if the sale does not go through. In a court filing last week, the firm warned that if the sale is not approved, the beloved fried chicken chain will be forced into Chapter 7 liquidation, which would mean closing all stores and selling off its assets, according to Bloomberg. We'll have to see whether or not the updated terms of the sale will be accepted by the U.S. Trustee. Beloved Fried Chicken Chain Warns of Closing All Locations first appeared on Men's Journal on Jun 10, 2025 Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Beloved Fried Chicken Chain Warns of Closing All Locations
If you've ever traveled to the New York area in recent years, there's a chance that you've enjoyed Sticky's – a unique and iconic New York fried chicken spot. But recent events could force the beloved New York chain to close all locations. Sticky's Chicken Joint is a beloved New York fried chicken chain with 12 locations throughout the area. Launched in 2012, Sticky's quickly became a beloved fast-casual hot spot with its farm-raised, antibiotic-free chicken and several unique sauce flavors. However, despite its popularity, the chain was hit hard by the COVID-19 pandemic due to its dependence on New York foot traffic and had a hard time bouncing back. Ultimately, Sticky's filed for Chapter 11 bankruptcy in April of last year to help cut its debts and chart a path forward. However, it sounds like the beloved chain has run into some issues. Sticky's has received a $2 million cash offer from Harker Palmer Investors, who would purchase the chain and take responsibility for some of its debts. However, the U.S. Trustee – the Justice Department's bankruptcy watchdog – is pushing back against the deal. U.S. Trustee claims that the deal would give Harker Palmer too much legal protection if the company were ever sued in the future, complicating the sale process. Harker Palmer has since revised the terms of the agreement in an attempt to satisfy the government watchdog. If that does not work, Sticky's has issued an ominous warning about its future if the sale does not go through. In a court filing last week, the firm warned that if the sale is not approved, the beloved fried chicken chain will be forced into Chapter 7 liquidation, which would mean closing all stores and selling off its assets, according to Bloomberg. We'll have to see whether or not the updated terms of the sale will be accepted by the U.S. Trustee. Beloved Fried Chicken Chain Warns of Closing All Locations first appeared on Men's Journal on Jun 10, 2025 Sign in to access your portfolio
