May 25, 2016 12:01 AM ET

Hotels, Restaurants and Leisure

Company Overview of Best Wings USA, Inc.

Company Overview

Best Wings USA, Inc. owns, operates, and franchises a chain of motorsports-themed family restaurants in the United States. It offers various food items that include salads and soups, street food, burgers, sandwiches, wings, combos, sidecars, and desserts, as well as bar services. The company also sells sauces, dry rubs, seasoning shakers, gift cards, apparel, glassware, headwear, and promotional gear through its online store. Best Wings USA, Inc. was founded in 1974 and is based in Sharon, Pennsylvania. The company has restaurant locations in Colorado, Florida, Indiana, Iowa, Kentucky, Louisiana, Nebraska, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia, West Virgin...

101 Chestnut Street

Sharon, PA 16146

United States

Founded in 1974

Phone:

724-981-3123

Fax:

724-981-5946

Key Executives for Best Wings USA, Inc.

Chief Executive Officer and President
Co-Founder and Director
Age: 71
Co-Founder, Chief Operating Officer and Director
Co-Founder
Compensation as of Fiscal Year 2015.

Best Wings USA, Inc. Key Developments

Motion for Asset Sale Approved for QSL of Medina, Inc.

The US Bankruptcy Court approved the sale of substantially all the assets of QSL of Medina, Inc. on March 25, 2016. As per the order, debtor has been authorized to sell substantially all its assets to TravelCenters of America LLC for $24.26 million, as per the agreement dated November 16, 2015. Sale proceeds will be used to pay secured claims of Wells Fargo Bank of $2.20 million, secured claims of The Farmers National Bank of Canfield of $0.40 million, secured claims of Bridge Funding Group, Inc. of $0.90 million, secured claims of Cortland Savings and Banking Company of $2.30 million and secured claims of Scott's Buffalo Wings, Inc. of $0.03 million.

Notice of Filing of Final Version of APA by QSL of Medina, Inc.

QSL of Medina, Inc. filed final version of the asset purchase agreement for the sale of substantially all its assets on March 24, 2016. As per the amended agreement dated March 22, 2016, the base purchase price is changed to $24.26 million. All the other terms of the agreement remain same.

Notice of Cancellation of Auction Filed by QSL of Medina, Inc.

QSL of Medina, Inc. filed a notice in the US Bankruptcy Court for the cancellation of the auction on March 15, 2016. As per the notice, debtor has not received any competing bid by bid deadline of March 11, 2016 and therefore auction scheduled for March 16, 2016 has been cancelled.

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