Bankruptcy and Sale for Southern Season in Chapel Hill

by San Antonio Attorney

Southern Season, a gourmet food store in Chapel Hill, was scheduled for an auction on Aug.  20 in a bankruptcy court in Greesboro.

Delaware-based Calvert Retail bought some of the store’s assets for $3.5 million.  The purchase comprises all of the store’s intellectual property, the Chapel Hill store and its website.

Currently, Calvert Retail owns Reading China and Glass and Kitchen and Company in Delaware, North Carolina, South Carolina, New Hampshire and Pennsylvania.

Southern Season had been dedicated to become the leading store for specialty and gourmet food, cookware and gifts.  The location in Chapel Hill was the ideal place for foodies in the area.  Southern Season boasts over 5,000 excellent wines and 283 distinctive hot sauces.

Based on court papers filed, Southern Season declared $9.8 million in assets and about $18 million in liabilities.  The store filed for Chapter 11 Bankruptcy two months ago, promising to retain its workers and concentrate on its online business and expand the “Taste of Southern Season”.  The company expects to emerge from bankruptcy before the end of the year.

Aside from its large store in Chapel Hill, there are outlets of “Taste of Southern Season” located in Raleigh, Charleston and in Ashville’s historic Biltmore Village, which opened in June 2016.  Calvert Retail announced it will close these stores as part of the auction.

Eric Brinsfield, owner of Calvert Retail, said they do not have a plan on changing the Chapel Hill store since the location is doing very well.

Stores in Mount Pleasant, SC and Richmond, VA have stopped operating.

Michael Barefoot founded Southern Season in 1975 and has received much recognition and even hosted a number of famous chefs.  The retailer has been included in the list of Top 25 Best Independent Stores in America.  The store was bought by TC Capital in 2011.

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