Al's Burger Shack, home of 'best burger in the country,' files for bankruptcy

CHAPEL HILL, N.C. (WTVD) -- A burger shack once known for serving the "best burger in the country" filed for bankruptcy Friday.

John Paul Cournoyer, legal counsel for Al's Burger Shack, said the restaurant filed for Chapter 11 bankruptcy, which would allow the business time to reorganize its finances in order to pay the bills.

Cournoyer released the following statement Monday:
As part of the expansion and opening of two new locations, the companies obtained certain high-interest loans. The restaurants are strong businesses, and if it were not for these loans the companies would be healthy. This is precisely the type of problem that Chapter 11 bankruptcy is designed to fix. I feel confident in our ability to successfully reorganize and that Al's Burger Shack will be around for years to come.

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According to court documents, Al's Burger Shack's Franklin Street location lists liabilities ranging from $500,000 and $1 million.

Al's released an additional statement via Cournoyer on Monday, assuring customers that cooks would continue to serve up its famous burgers:

On Friday, Al's Burger Shack filed for bankruptcy protection. While sales are strong at our three locations, we overextended during expansion and need protection and relief while we reorganize. We appreciate your support and patronage and will need to keep public comments on these proceedings to a minimum. As grateful as we were to have received accolades in recent years, we are even more so to have been afforded this opportunity to regroup. Rest assured we have absolutely no plans to stop slinging burgers and hope to see you at Al's soon.
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