Happy Joe’s Pizza has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware.
Dynamic Restaurant Acquisition, Inc., doing business as Happy Joe’s Pizza, of 5239 Grand Ave., Davenport, filed the petition on September 2.
Thomas A. Sacco, president and CEO of the company, signed the petition. The company is represented by Mark Menuti of Saul Ewing Arnstein & Lehr LLP of Wilmington, Del.
The pending bankruptcies to which Sacco’s signature is attached relate to HJ Dynamics Holdings, LLC, TS Dynamic Acquisition, Inc. and TS Dynamic Holdings, LLC.
According to the company’s income statement attached to the bankruptcy petition, Happy Joe’s recorded a loss of net income of $1,196,579.18 for fiscal year 2022. In fiscal year 2021, the company realized a net profit of $766,523.50.
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The company reports total assets of $1,908,481.29 for fiscal year 2022.
The total liability for fiscal 2022 was $2,455,766.29.
This is a developing story.