A Dunkin' Donuts franchise, the largest in the Nashville area, has filed for
Chapter 11 bankruptcy protection.
Current River Capital LLC and its managing company, Tekeni Partners LLC, operate seven locations of Baskin-Robbins, Dunkin' Donuts, and Dunkin Donuts-Baskin Robbins throughout the Nashville area, which includes Goodlettsville, Gallatin, Lebanon, Old Hickory and Hermitage.
The company cited a few reasons as to why it was filing for bankruptcy, including the fact it opened seven new stores in 15 months, and that sales were down due to the recession.
According to Glen Watson, the company's attorney, the franchise does not plan to close any of its locations, or to fire any of its 117 employees.
"Even healthy businesses have seen their sales soften," said Watson, "It's just a matter of less money being spent by consumers, and they've suffered the ill effects."
A spokeswoman for Dunkin' Brands Inc., the parent company of Baskin-Robbins and Dunkin' Donuts, said it remains committed to the Nashville market.
Current River Capital's assets are estimated at $100,000 to $500,000, and its estimated liabilities range from $1 million to $10 million.
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