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SBG Burger gets further interim approval to access cash collateral
By Sarah Lizee
Olympia, Wash., Dec. 28 – SBG Burger Opco, LLC received further interim approval to access cash collateral, according to an order filed Thursday with the U.S. Bankruptcy Court for the Middle District of Florida.
Proceeds will be used to fund day-to-day operating expenses, including payroll, through Jan. 31.
City National Bank of Florida has an interest in the collateral.
As a reminder, the debtors are subsidiaries of fast-food restaurant operator Starboard Group that control the group’s Wendy’s locations.
A further hearing is scheduled for Jan. 31.
The Coral Springs, Fla.-based companies filed bankruptcy on Nov. 14 under Chapter 11 case number 23-04797.
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