NYC Chicken Spot Seeks Liquidation Blaming Cold, Congestion Fees

The operator of New York-area restaurant chain Sticky’s Finger Joint wants to convert its bankruptcy reorganization into a liquidation, blaming its declining financial performance on an extreme cold snap in December and New York City’s congestion pricing plan.

Sticky’s Holdings LLC seeks to convert its Chapter 11 case into a Chapter 7 because it can’t pay its bankruptcy costs or make promised distributions to creditors due to a lack of sufficient cash flow and an inability to secure more financing, the company said in a motion filed Monday in the US Bankruptcy Court for the District of Delaware.

There is ...