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Koffee Kup paid time off decision pushed out another week

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BURLINGTON â Former employees of Koffee Kup and Vermont Bread Company will have to wait at least another week before they know when they will receive their paid-time-off balances. During a court hearing on Tuesday morning, Judge Samuel Hoar was considering a motion to pay the nearly $800,000 in time off balances out of money being held by the receiver of the closed bakeryâs assets.
âWeâre still trying to figure out whoâs going to carve out the bird,â said Hoar. âWho gets a leg and who gets a wing.â
On April 26, just three weeks after American Industrial Acquisition Corporation obtained a majority interest in Koffee Kup, three bakeries were shuttered without notice. In addition to Koffee Kupâs bakery in Burlington, Vermont Bread Company in Brattleboro and Superior Bakery in North Grosvenor Dale, Conn., were closed, pushing nearly 500 employees out of work. While the employ ....

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Vermont judge authorizes $8M payout in Koffee Kup hearing

Vermont judge authorizes $8M payout in Koffee Kup hearing
June 23, 2021
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BURLINGTON, Vt. (AP) A Vermont county judge has approved the payment of nearly $8 million in outstanding claims made by three Koffee Kup Bakery creditors.
Chittenden County Judge Samuel Hoar approved the payment Tuesday and signaled that he was open to expanding the role of Ronald Teplitsky, the receiver of Koffee Kup’s assets, to make recommendations on how other creditors, including the 500 employees who lost their jobs on April 26, will receive money owed to them, the Brattleboro Reformer reported.
Koffee Kup’s primary lender, KeyBank, will receive $7.6 million, the Vermont Economic Development Authority will receive $213,000 and Continental Indemnity will get $84,000. ....

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Judge authorizes $7.6M payout to KeyBank in Koffee Kup hearing

Judge authorizes $7.6M payout to KeyBank in Koffee Kup hearing
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