Michael Jordan’s Restaurants Owners File Chapter 11

November 18, 2010 at 11:16 am by Terez in Michael Jordan

It's all about the beef T..

Michael Jordan vary rarely fails when he puts his name behind something..but it seems trouble is brewing for the group who owns MJ’s steakhouse..The Glazier Group, which owns Michael Jordan’s The Steakhouse NYC in Grand Central Terminal and six Strip House restaurants, has filed for Chapter 11 bankruptcy protection on Monday. Co-owners Peter and Penny Glazier said the filing in U.S. Southern District Court will not affect the  company’s restaurants or catering venues “We are restructuring corporate debt,” Mr. Glazier said. “We tried to make a deal with our lenders, and we could not.” He added that the restaurants are “doing very well.” Something doesn’t add up..usually when you hear debt restructuring,  things aren’t going very well..How the hell do you botch something with MJ’s name attached to it?? -TO

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