September 28, 2016 3:49 PM ET

Hotels, Restaurants and Leisure

Company Overview of Pichi's Inc.

Company Overview

Pichi's Inc. operates a hotel in Puerto Rico. It provides lodging and accommodation, restaurants and bars, wedding, meeting and special events, dining, a casino, a beauty salon, and a gift shop facilities, as well as offers vacation packages, private parking, dry cleaning, and laundry services. The company was founded in 1978 and is based in Guayanilla, Puerto Rico. As of June 19, 2015, Pichi's Inc. operates as a subsidiary of JA Property Group, Inc.

Exit 205 Road 127 km 8.6

Guayanilla, PR 00656

United States

Founded in 1978

Phone:

787-835-3335

Fax:

787-927-0012

Key Executives for Pichi's Inc.

Pichi's Inc. does not have any Key Executives recorded.

Pichi's Inc. Key Developments

Motion for Asset Sale Approved for Pichi's Inc.

The US Bankruptcy Court gave an order approving the sale of certain assets of Pichi's Inc. on June 18, 2015. The debtor has been authorized to sell its certain assets to EJA Property Group, Inc., the stalking horse bidder for a purchase price of $5.15 million in cash. The assets include Emmanuellis’ and Pichi’s, Inc.’s real properties, along with the equipment, buildings, structures, systems, improvements, fixtures and other personal property. The debtor did not receive any other competing bids for the purchase of its assets and therefore EJA Property Group, Inc. emerged as the winning bidder. The sale was closed on June 19, 2015.

Motion for Asset Sale Filed by Chapter 7 Trustee

Roberto Román Valentín, Chapter 7 trustee filed a motion in the US Bankruptcy Court for the sale of certain assets of Pichi's Inc. on May 29, 2015. The trustee seeks the Court’s approval for the sale of certain assets of Pichi's Inc. to EJA Property Group, Inc., the stalking horse bidder, for a purchase price of $5.15 million in cash pursuant to the asset purchase agreement. As per the agreement, purchaser has already paid a deposit of $0.50 million to the Trustee. The assets include Emmanuellis’ and Pichi’s, Inc.’s real properties, along with the equipment, buildings, structures, systems, improvements, fixtures and other personal property. The sale hearing is scheduled for June 9, 2015. The Closing of the Sale shall occur in no event later than June 15, 2015. The proceeds from the sale will be applied to fund the carve-outs as defined in the asset purchase agreement.

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Recent Private Companies Transactions

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