Bruce Swisshelm, CEO of Swisshelm Group Inc, has filed Chapter 7 bankruptcy, claiming $17.63 million in liabilities with $7.66 million in assets. The Springfield, Missouri-based restaurant group had operated the local Burger King franchise for over 30 years. They sold the franchise in 2007 to Duke and King Acquisition Company in March of 2007, taking on new ventures, including the Macaroni Grill.

According to reporters Emily Rittman and Ben Knaup, when KSPR News (ABC) tried contacting the company, both the message on the voice mail and a note taped to the door of Fog City Coffee, which is connected to Swisshelm, said the company is closed. Fog City Coffee is one of the 16 companies named in the filing.

Swisshelm’s assets may include his interests in Macaroni Grill and San Francisco Oven. According to Springfield Business Journal Editor Eric Olson, the future for the Swisshelm Group is dim. “’A big acquisition after selling his rights to Burger King was the San Francisco Oven franchise. He actually acquired the entire system which meant two locations here in Springfield and others scattered around the country,’” Olson said.
Court documents show Swisshelm owes dozens of Florida employees wages from a McCallister’s operated by one of his companies, Horned Frog Deli. Olson continued his speculation of the Swisshelm company, saying that he doesn’t expect restaurant closings in Springfield and that Swisshelm will look for buyers. “’He needs to go through the courts and get their approval to sell his properties.’”

Swisshelm will also have to sell his $500,000 home; he had previously sold his interest in Ebbets Field for $120,000.

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