Tumbleweed files for bankruptcy

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Nick

West Monroe, LA

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#1
Mar 28, 2009
 
Tumbleweed Inc. has filed for Chapter 11 reorganization under the federal bankruptcy code.

The company lists 100 to 199 creditors, according to March 27 filings in the U.S. Bankruptcy Court in the Western District of Kentucky.

The company listed its assets and liabilities both as being in the range of $10 million to $50 million.

The action follows 15 months of attempts to restructure terms with its largest debtor, Tumbleweed CEO Matt Higgins said in a news release.

The loan terms were made under “different economic conditions to fund unit growth and chain expansion,” he said in the release.

And although the company tried to boost sales and profitability, he said, the “loan package … threatened Tumbleweed’s very survival and blocked management’s ability to plan strategically.”

Tumbleweed plans to use the Chapter 11 process to restructure its debt obligations with an Arizona-based lender.

Company officials said in the release that Tumbleweed will continue to operate its restaurants in Kentucky, Ohio and Indiana during the reorganization process.

No restaurant closings or layoffs are planned, and no franchisees were affected by the Chapter 11 filing, according to a news release.

“Throughout the duration of this reorganization, we will continue to provide our loyal guests the quality and service they’ve come to love while meeting our post-petition obligations to suppliers and other business partners,” Higgins said in the release.

One a more positive note, Higgins said, that the company has seen strong sales performance.

Same-store sales for the Louisville area in the first quarter of 2009 were up 3.7 percent from a year earlier.

Seiller Waterman LLC is representing Tumbleweed in the bankruptcy proceedings.

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Looks like Glasgow loses another business in the near future. The liquor vote seems to have been as much of a disaster for us as it was Cave City. Tumbleweed also closed a restaurant in Bowling Green a couple years ago, plus some others in recent months.
well

Glasgow, KY

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#2
Mar 28, 2009
 

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No where did i see where Tumbleweed was closing in glasgow.

I think you read too much into it. If you think about it there isnt too many good restaurants to eat at here in Glasgow. Tumbleweed being one of the better ones, I dont see it closing anytime soon....
my my

Glasgow, KY

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#3
Mar 28, 2009
 

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well wrote:
No where did i see where Tumbleweed was closing in glasgow.
I think you read too much into it. If you think about it there isnt too many good restaurants to eat at here in Glasgow. Tumbleweed being one of the better ones, I dont see it closing anytime soon....
It will be closing shortly. The moist vote really doesn't it? The people for the vote just wouldn't listen. Well I guess they will have to learn the hard way.
The Restaurant, Bodeans, Grace Halls and now Tumbleweed are all going to be closing.
SamIAm

Edmonton, KY

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#4
Mar 28, 2009
 

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you retarted mo$%#er the liqour vote had nothing to do with the entire US economy, only the gready butt munching mortgage people!

We need to vote for package liquor next, its the only smart move for us.
Geezer44

Scottsville, KY

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#5
Mar 28, 2009
 
Couldn't have happened to a nicer bunch of people!
PYTHON

Glasgow, KY

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#6
Mar 28, 2009
 
SamIAm wrote:
you retarted mo$%#er the liqour vote had nothing to do with the entire US economy, only the gready butt munching mortgage people!
We need to vote for package liquor next, its the only smart move for us.
I agree, the revenue would help build our new jail and add more law enforecement to the streets so they can hide behind the stores.
LMAO

Glasgow, KY

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#7
Mar 28, 2009
 

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i sit and LMAO at u idiots that thought alchol was the answer....u fools!!! it hurt glasgow, plain and simple.

“OoOooh...”

Since: Feb 09

Munfordville, KY

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#8
Mar 28, 2009
 

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Don't people understand that we're in a recession? I mean, I sincerely doubt that the moist vote has caused any of these restaurants to go out of business. I think that the moist vote just happened at a time when it is hard for a restaurant to make it. Had the economy been in better shape, perhaps these places would have done better. It is very hard for most any business to strive right now. There are lots of companies that are going away and they've been in business for years. You also remarked that a Tumbleweed in Bowling Green closed. How on earth is that related to Glasgow going moist? I think you're making something out of nothing here. Some people just cannot get over the damn moist vote! Go have a drink, you'll feel better...
my my

Glasgow, KY

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#9
Mar 28, 2009
 

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SamIAm wrote:
you retarted mo$%#er the liqour vote had nothing to do with the entire US economy, only the gready butt munching mortgage people!
We need to vote for package liquor next, its the only smart move for us.
Your the idiot, screwball. If package stores are voted in what few businesses that are left will be gone. Glasgow has shown their stupidness once about liqour they surely won't don't do it again.
UL Fan

Glasgow, KY

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#10
Mar 28, 2009
 

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Alcohol hurt Glasgow!!! That's a joke,What hurt Glasgow is the economy,there's no jobs,factories are closing left and right and whats not closing are downsizing.
Geezer44

Scottsville, KY

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#11
Mar 28, 2009
 

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Please let me explain...
Tumbleweed has been waiting for Glasgow to go moist. This has nothing to do with Glasgow going moist..It has everything to do with Tumbleweed having NO management.(pure & simple)
my my

Glasgow, KY

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#12
Mar 28, 2009
 

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LMAO wrote:
i sit and LMAO at u idiots that thought alchol was the answer....u fools!!! it hurt glasgow, plain and simple.
Thanks LMAO. These numnuts can't seem to grasp the situatiion. I suppose they will finally learn. Of course some of the HARD HEADS will never learn.
Of course they won't believe it but there's a higher power thats trying to tell these people something.

“Turn it over and finish it off”

Since: Aug 08

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#13
Mar 28, 2009
 
To all of you whom don't know, Tumbleweed in Glasgow is a franchise store. So, if you read the article you will see that it says no franchise stores were affected by the filing. So, I guess, that will help squash the rumors. Oh, wait, no it won't, some of you have nothing better to do then think you know it all. Tumbleweed in Glasgow will not close until Wayne and Linda Jones and John Ackerson decide they no longer want to get the big tax break on it.

“Turn it over and finish it off”

Since: Aug 08

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#14
Mar 28, 2009
 

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Geezer44 wrote:
Please let me explain...
Tumbleweed has been waiting for Glasgow to go moist. This has nothing to do with Glasgow going moist..It has everything to do with Tumbleweed having NO management.(pure & simple)
Let me explain something to you, Tumbleweed has done ten folds with Glenn as manager then it ever did before he got there!! Glenn is a great manager and a great leader. He has gotten a lot of people in Glasgow to come back from when they first opened. No, the place will not please everyone and what I've heard neither had you Geezer, so before you start calling the kettle black.... We can all point fingers and call names, but, until you've worked for the man, you will never understand how much he does for that place!!!!!
Vote yes

Evansville, IN

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#15
Mar 28, 2009
 

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First of all mr. my my from hardyville...you don't even have a clue about what you are talking about. There isn't a restaurant here in Glasgow called THE RESTAURANT. It's The Station and it closed because the owners husband passed away and she is too grief stricken to re-open. You obviously have no clue about this discussion. We are in a recession!!! Give me a break. As far as I am concerned you are a raging idiot. Think before you speak..get the facts. Oh and the moist vote doesn't even play a role here. Cling to your religion..oh because alcohol is baaaaaaddd!! Lol!!
bigjeep

Glasgow, KY

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#16
Mar 28, 2009
 
my my wrote:
<quoted text>It will be closing shortly. The moist vote really doesn't it? The people for the vote just wouldn't listen. Well I guess they will have to learn the hard way.
The Restaurant, Bodeans, Grace Halls and now Tumbleweed are all going to be closing.
REPENT!!! The way of the tea totalers is at HAND!

gees...
Vote yes

Evansville, IN

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#17
Mar 28, 2009
 

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to: my my hardyville
Yeah GOD is saying that people shouldn't have jobs because of alcohol. This makes me embarrased, because it is religious conservatives like you going around damning people for the way they live. We are all different my friend.
Vote yes

Evansville, IN

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#18
Mar 28, 2009
 

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UL Fan wrote:
Alcohol hurt Glasgow!!! That's a joke,What hurt Glasgow is the economy,there's no jobs,factories are closing left and right and whats not closing are downsizing.
You are not very bright huh?
UL Fan

Glasgow, KY

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#19
Mar 28, 2009
 

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Vote yes wrote:
<quoted text>
You are not very bright huh?
I am smarter than most people around here including you!
Truth

Glasgow, KY

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#20
Mar 28, 2009
 
The same thing is going on in bowling green to,and it hasn't a thing to do will liqour sales,heck the whole country as a matter of fact.Why don't we simply bring the troop's home and put them on the border of mexico
and deport illegals who are depriving u.s citizens the right to work? Why would i or any one else want to send my tax dollars into a welfare or medical system that support these people and would do next to nothing to help me if i needed it? Some of you whining liberals need to go to a foriegn country first hand and experience there regards to you! Wheres Barack at on this issue?Heck he will probably send them a few billion they been asking for to fight there little border war,which in my mind will probably mean more weapons and drugs headed our way.Rather some people want to blame the economy on the liqour by the drink?LOL...how absurd!WHAT brought all the mexican resturaunts to Glasgow? Who's can answer this question? HUH? HUH?
UH HUH?

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