Overview
- The Oct. 29 filing in the U.S. Bankruptcy Court for the Southern District of Indiana lists more than 100 creditors, about $14.2 million in liabilities, and roughly $1.4 million in personal property assets.
- The Subchapter V case is active with a trustee overseeing a plan to keep the commissary operating, and the company says franchise locations remain open.
- Listed creditors include a $3.5 million judgment in favor of Old National Bank and a trucking firm, Carter Logistics, claiming more than $700,000 for unpaid deliveries.
- An affiliated business, Marcum Industries LLC, also filed for Chapter 11 on Oct. 29.
- State regulators issued a May 5 cease-and-desist alleging unregistered securities offerings tied to CEO Lee Marcum and related entities, with the investigation ongoing.