Owner of closed Huddle House restaurants files for bankruptcy

06/16/2014 3:56 PM

06/16/2014 3:57 PM

Ron Lee, owner of two now-closed Huddle House restaurants, filed last week for Chapter 7 bankruptcy.

In the court filing, Lee, doing business as Leaky Cup Holdings, reported liabilities of $1.2 million and assets of $316,000.

Chapter 7 means a liquidation of the business and any non-protected personal assets.

Lee and fellow-franchisee David Key opened a Huddle House location in Newton in mid-2011. A second one opened in El Dorado shortly after.

The largest listed debtors listed in the bankruptcy are Kanza Bank, $404,147; Relianz Bank, $347,461; and the U.S. Small Business Administration, $260,598.

Lee decline to comment.

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