By: Chris Kramer
March 02, 2011
Andy Mueller, the chef and owner behind the now-closed Nautical Inn in Sturgeon Bay, Wisconsin, has recently filed for Chapter 7 bankruptcy protection .
Mueller had left his job as a chef at a previous restaurant to open his own, and following the success of the Nautical Inn, he opened a second location in Ellison Bay, according to the Door County Advocate. Late last year, however, both business began to offer limited opening times and eventually closed. According to court records, Andrew W. and Kay E. Mueller filed for Chapter 7 bankruptcy on December 3, listing debts owed to suppliers, accountants and other creditors, according to the news source.
Both his restaurants were reportedly listed as limited liability corporations, but his home will reportedly be seized by creditor Citi Mortgage.
When a consumer files for Chapter 7 bankruptcy, non-exempt assets are liquidated for the benefit of creditors. During the bankruptcy proceeding, an automatic stay prevents creditors from engaging in collection action against the borrower. When the consumer emerges from bankruptcy protection, most of his unsecured debts may be discharged.
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