Ham's Restaurant, a fixture on Chapel Hill's Franklin Street for 24 years, will remain open despite a bankruptcy filing by the Greensboro chain's corporate parent.
The Chapel Hill Ham's is a franchise and not affected by the Chapter 11 filing, said Ryan Faircloth, who has owned the local restaurant for about 18 months.
Business at that location, which employs about 50 servers, bartenders and cooks, has been up during each of the past few years, despite the economic downturn, Faircloth said. "Things slow down when students are gone, but we still have a good local crowd as well."
Ham's Restaurants Inc., which started in 1935 with a single location in Greensboro, this week filed Chapter 11 bankruptcy. The chain plans to stay open as it reorganizes but recently closed locations in Charlotte, Burlington and Kinston.
“Ham’s main priority at this time is to keep its employees working, along with continuing to serve the communities we have been a part of for many years,” said owner Charlie Erwin, in a prepared statement.
It now has 21 locations in North Carolina and Virginia, including seven franchises.
The parent corporation's top creditors include the IRS, which is owed $1.7 million, and the N.C. Department of Revenue, which is owed $815,993. The chain owes Sysco Food Services $870,000.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
Comments
That would be terrible. The
Fri, 11/13/2009 - 02:54 — abshandraThat would be terrible. The Ham's is full of historical story about the school. I wonder, what is happen with the school? Where is the school, anyway? Since, it has very long period for me not visiting there. I wish I can go there again to see it. But, I hope there are someone willing to help the Ham's get out from their debts. If they are closed, I can't imagine about their employees. They'll become unemployment. Such a pity. | How to File for Bankruptcy
They should close the Hams
Wed, 10/28/2009 - 14:40 — beachstuffThey should close the Hams in Greenville, that place is terrible.
disagree
Wed, 10/28/2009 - 15:36 — ashley41683The Ham's in Greenville is an institution with too many college legends attached to it to close. That would be horrible.