Long Island City wholesale sandwich maker Bimmy’s filed for Chapter 11 bankruptcy protection last week, Crain’s New York Business reported. Bimmy’s has less than $50,000 in assets and more than $500,000 in liabilities, Crain’s reported.
Located at 47-00 33rd St. #2B in Long Island City, the 15-year-old wholesaler often sold its products in airports, where it saw a downturn in sales about two years ago, Crain’s reported. The company had been trying to increase profits by laying off some employees and attempting to increase productivity, the magazine reported.
Bimmy’s has more than 50 creditors, including Manhattan-based Dairyland and Brooklyn-based Brooklyn Bread and Aladdin Bakers Inc. Bimmy’s owes these companies $8.5 million and more than $8 million, respectively, Crain’s said.
— Rebecca Henely