Johnny Rockets franchisee lands in bankruptcy court

Nation's Restaurant News, the bible of the restaurant industry, has reported that David Giesen, who owns Steak Escape and Johnny Rockets franchises in Colorado, on Monday filed for Chapter 11 bankruptcy protection. According to court filings, his Giesen Restaurant Enterprises LLC and Rocket Restaurant Ventures LLC have debts of between...

By Patricia Calhoun

December 17, 2008

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Nation's Restaurant News, the bible of the restaurant industry, has reported that David Giesen, who owns Steak Escape and Johnny Rockets franchises in Colorado, on Monday filed for Chapter 11 bankruptcy protection. According to court filings, his Giesen Restaurant Enterprises LLC and Rocket Restaurant Ventures LLC have debts of between $1 million and $10 million -- with assets of less than $100,000.

Among the debts: $880,000 that Rocket Restaurant owes to Monfort Capital LLC of Eaton. Back in 2000, Giesen had partnered with Charlie Monfort on a proposed Steak Escape rollout, with hopes of opening up to a hundred units. Today, there are just four in the metro area.

There are four Johnny Rocket stores in the Denver area; all are open for business.

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Patricia Calhoun is editor-in-chief of Westword, the alt-weekly she co-founded in September 1977. She’s been inducted into the Colorado Press Association Hall of Fame, the Association of Alternative Newsmedia Hall of Fame and the Colorado Restaurant Association Hall of Fame. She’s also received dozens of local, state and national awards for writing, including first place for feature writing and first place for column writing with the Society of Professional Journalists. Patricia is a weekly commentator on Colorado Inside Out, PBS 12's public affairs roundtable, which has won two Emmys.

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