A pair of Hendersonville-based operators of seven local Dunkin Donuts and Baskin Robbins sites filed for Chapter 11 bankruptcy on Thursday.
Current River Capital, LLC and its managing company Tekeni Partners LLC operate two Dunkin Donuts locations in Nashville and Lebanon, as well as four locations of Dunkin Donuts/Baskin Robbins locations in Goodlettsville, Gallatin, Old Hickory and Hermitage. Tekeni is listed as the franchisee for each of these stores, which have a total of 108 hourly and 9 salaried employees.
“Without the immediate use of cash collateral, Debtors will be unable to operate their business, retain or pay employees, maintain their assets, attempt to reorganize their affairs or perform many of the tasks which are necessary to maximize the value of their assets,” said William Pfaffmann, managing partner of Current River Capital in court documents filed Thursday at the U.S. Bankruptcy Court in Nashville.
Current River Capital’s estimated assets range from $100,001-$500,000 and its estimated liabilities are in the range of $1,000,0001 to $10 million. Its largest creditor listed is The CIT Group/Equipment Financing Inc. owed nearly $5.4 million.
A call to Current River Capital’s attorney Glen C. Watson, III was not immediately returned.