In a renewed attempt to stabilize finances, this family-owned eatery at Cherry Hill Mall seeks creditor protection once more.
The Bistro at Cherry Hill, known for its U-shaped counter in the Macy’s wing of Cherry Hill Mall, is once again navigating the complexities of Chapter 11 bankruptcy. This marks the second time in eight years that the restaurant has requested protection from creditors. Owners emphasize they plan to keep the doors open while reorganizing debts, reassuring patrons who have dined there for nearly three decades.
Why this Cherry Hill Mall restaurant is filing for Chapter 11 protection once again
According to attorney Mark Cherry, the establishment’s financial distress stems largely from pandemic-related rent issues that caused a domino effect on the Bistro’s overall budget. In 2017, the restaurant also filed for similar relief after a temporary shutdown by the New Jersey Division of Taxation.
Although they successfully reorganized finances in early 2018, the recent setbacks have forced them to seek a court-approved plan to address looming debts and balance outstanding obligations. Below is a short table summarizing essential details:
| Detail | Information |
|---|---|
| Name | The Bistro at Cherry Hill |
| Location | Macy’s wing, Cherry Hill Mall |
| Seating Capacity | Approximately 60 people |
| Ownership | Family-operated for nearly 30 years |
| Current Status | Filed for Chapter 11 on May 1 |
| Estimated Assets/Liabilities | Between $100,000 and $500,000 |
This family-run restaurant focuses on Italian and American cuisine and recently ventured into catering services. Curious about the future of those new offerings? The ownership hopes that by streamlining debts, they can continue to expand menu items and special events.
How creditors, pandemic disruptions, and past tax closures all shaped this crisis
The current bankruptcy filing estimates that both assets and liabilities fall between $100,000 and $500,000. PREIT, the mall’s owner, stands as one of the largest unsecured creditors, along with Main Street Merchant Solutions. Each holds an outstanding balance of $175,000. Nevertheless, the Bistro expects its recovery plan to leave sufficient funds for unsecured creditors. This approach aims to stabilize finances and preserve a beloved community dining spot that many locals have frequented for years.
Key points and next steps for curious patrons
- The Bistro remains open for business despite the Chapter 11 process.
- Owners are negotiating to reduce debt and settle pandemic-related disputes with landlords.
- Legal counsel projects that a court-approved reorganization will ensure a stable path forward for the eatery.
What regular diners and local residents can expect going forward with these developments
Patrons can expect minimal interruptions to service. In fact, management reiterates its dedication to continue operating through the reorganization phase. If you’ve been wondering whether the Bistro’s family-style atmosphere will change, the plan is to maintain the same welcoming ambiance, menu favorites, and personalized service.
While the Bistro at Cherry Hill faces significant financial hurdles, its owners seem determined to keep the restaurant running and satisfy loyal customers. For community members who value this longtime dining spot, staying informed and showing continued support may help the Bistro emerge from Chapter 11 on a stronger footing.