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La Cremaillere has wine worth nearly $1.3 million in its cellar in Bedford, but not much else to keep the famed French restaurant financially afloat.
La Cremaillere petitioned for Chapter 11 bankruptcy protection on April 17, declaring nearly $1.4 million in assets and more than $2 million in liabilities.
As recently as September, the owners had expressed optimism when Meyzen Family Realty Associates, the company that owns the property and leases it to the restaurant, filed for Chapter 11 bankruptcy to protect the property from foreclosure.
They were close to refinancing the property, co-owner Barbara Meyzen said, and just needed "a few months breathing room" to finish the deal.
"The restaurant is experiencing an upsurge in business," she stated, "which will allow it to begin paying rent once again."
But in February, Celtic Bank Corp. of Salt Lake City informed the bankruptcy court in White Plains of a possible "doctored document" and asked permission...