Iron Hill files for Chapter 7 bankruptcy protection

Company Overview - Iron Hill Brewery & Restaurant has filed for Chapter 7 bankruptcy protection, indicating a complete liquidation of the business [1][2] - The company accumulated over $20 million in total debt while having approximately $125,000 in available cash [2] Recent Developments - The filing follows the abrupt closure of all 16 locations of Iron Hill, which occurred two weeks after the closure of three restaurants, including the original location opened in 1996 [3] - A message to loyalty members expressed gratitude for their support and indicated hopes for a future return [4] Legal and Regulatory Issues - The closures have prompted a legal investigation regarding potential violations of the WARN Act, which requires 60 days' notice for mass layoffs [4] Industry Context - Iron Hill is the second restaurant chain to file for Chapter 7 bankruptcy in less than a month, following Opa Authentic Greek Cuisine [5] - Restaurant bankruptcies have increased over the past year and a half, with overall bankruptcy filings rising by 11.5% compared to the previous year [6]