The local franchisee for several Pinkberry frozen yogurt stores has filed for Chapter 7 bankruptcy, according to court records.
Pinkberry Mid-Atlantic LLC, which is controlled by Stavros Roberts, lists debts of more than $1.2 million and assets of more than $820,000. The petition was filed in U.S. Bankruptcy Court for the Eastern District of Virginia Dec. 26.
The LLC operates stores in Georgetown, Dupont Circle, Arlington, Fairfax, Tysons Corner, Gainesville and National Harbor, all of which are still open. A store in Leesburg closed earlier this year.
John Goetz, the attorney representing Pinkberry Mid-Atlantic, said the Chapter 7 petition seeking the liquidation of the company, rather than Chapter 11 reorganization, was filed at the request of the franchiser, Los Angeles-based Pinkberry Inc.
He said he is not sure whether any local locations would remain open long-term. Some could be taken over by the corporate franchiser. A call to Pinkberry regarding the future of the Washington stores has not yet been returned.
Roberts declined to comment for this story through his attorney.
Pinkberry Mid-Atlantic’s creditors are expected to meet in February. The largest creditor is BB&T Corp. with claims of more than $500,000. The local franchisee for the California-based frozen yogurt company also owes back taxes to Arlington County ($44,121) and Virginia ($49,034). Other debts are owed to law firms; utilities Pepco, Dominion Virginia Power and D.C. Water; and food service provider Sysco Food Services.
Pinkberry entered the D.C. market in 2010, even as national and local competitors including Red Mango, Iceberry and TangySweet had already established a foothold. Not all of them have survived: TangySweet, from local restaurateur Aaron Gordon, closed in Dupont Circle in 2011, though its location in Penn Quarter remains. Red Mango closed its Clarendon location in 2013.
