Serio’s Market in Northampton at Risk of Bankruptcy Due to Unpaid Debts to Suppliers

by San Antonio Attorney

Serio’s Market, a 66-year old grocery store in Northampton, Ma, is financially troubled and is being sued by a supplier over a $32,000 debt.  The family-owned grocery store owes a total of $60,000 to creditors, which could lead to a bankruptcy filing.

Store manager Jamie Golec says the grocery store has been struggling for the past 9 years as balancing the business’ revenue and expenses has been really hard.

The lawsuit was filed on Nov.  10 seeking payments for goods provided by Bozzuto’s starting in January to October this year.

The complaint states that Serio’s failed to make the payments and unable to comply with their agreements.

Bozzuto’s, which is headquartered in Cheshire, Conn., wants payments for the unpaid bills, plus interest, attorney’s fees and court’s cost.  Based on an account statement filed with the court, the grocery store has paid $1,700 since July, with the most recent payment in September.

Golec, whose father Gary Golec owns the store, has offered Bozzuto’s a $100 weekly payment just to prevent the interest from accruing.  But she said the offer was turned down by the supplier.

Serio’s has been struggling to pay for high electrical bills, new rental expenditures and years of improper book keeping.

In spite of the troubles that the business is facing, Golec considers Serio’s as an important part of the community that should be saved.  The store contributes to the Northampton Survival Center, gets involved in community service, and provides jobs to 19 people, she said.

Declaring bankruptcy is usually a last resort for those who are knee deep in debt.  If used properly, a debtor can save money and get a fresh start financially.  A San Antonio Chapter 13 Attorney can help in preparing a debt repayment plan that conforms to the court’s guidelines.

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