Bankruptcy judge gives go-ahead for Big Apple sale
by Bob McClay/KTAR (February 22nd, 2012 @ 5:00am)
PHOENIX - There could be new life for a longtime valley restaurant chain.
Bill Johnson's Big Apple CEO Sherry Cameron sayid that a bankruptcy has given the go ahead for a proposed sale of the five restaurants.
Bill Johnson and his wife Gene started the restaurant 55 years ago. The original still is serving up meals on east Van Buren Street.
Recently, the family owned chain has been in Chapter Eleven bankruptcy. Some of Johnson's six children who now own the chain wanted it put into Chapter Seven bankruptcy, which Cameron said would mean the restaurants would close.
Three weeks ago, a judge was presented with a buyout plan.
"Currently there are two of Gene Johnson's children, along with some investors, who have put forth an offer," said Cameron.
The group would buy the restaurants from the other four brothers and sisters.
Cameron said the mood is better in the restaurants.
"We're feeling really positive," Cameron said. "We've revamped the menus. We've updated the quality of all of our products and the customers are just loving it."
Cameron wouldn't disclose the purchase price. She said there are a few "minor" details to be worked out, but she's confident that the restaurants will stay open, including three in Phoenix and one each in Mesa and Goodyear.
Among the things the Big Apple is famous for are its apple pies, barbecue sauce (which is also sold in stores), sawdust on the floor and Western-dressed waitresses.