The owners of the Molly Maguire’s chain, with locations sprinkled throughout Chester and Montgomery Counties, have filed Chapter 11 Bankruptcy. Each of the co-owners, Declan Mannion and Conor Cummins, filed individually in the U.S. Bankruptcy Court for the Eastern Pennsylvania.
According to the Delco Times, the owners decided to file for bankruptcy while the company is restructuring. They said that the bar and restaurant chain will not be closing, and that all of the Molly Maguire’s employees can rest assured that their jobs are secure. The debts listed in each of the filings were primarily business debts and the estimated assets and liabilities both are listed at between $1 million and $10 million, although no specific dollar amount is mentioned in the filing. A list of creditors includes Bank of America,Toyota, Home Depot, and Best Buy among others.