Why did Padow’s Hams and Deli file for bankruptcy?
By Lena Price
RICHMOND, Va. (RichmondBizSense) – To buy itself time after a dispute with a landlord, a longstanding Richmond sandwich shop has filed bankruptcy.
Padow’s Hams and Deli, which opened its first location in the Willow Lawn shopping center in 1988, filed for Chapter 11 bankruptcy protection in mid-November.
Padow’s president Sidney Padow said the company made the filing after falling behind on rent at the Willow Lawn location.
“It got to a point where we couldn’t afford the payments anymore,” Padow said. “We asked the landlord for some concessions, and we were basically told pay up or get out.”
All eight locations will remain open during the bankruptcy process.