Remo’s catering company is on the brink of bankruptcy
Posted On August 5, 2021
Remo Catering is the latest restaurant chain to go bankrupt, with the company now down to just four full-time employees.
Remo, owned by John Schnatter, has been plagued by controversy ever since its CEO, Paul McMullen, stepped down in 2012 after he was caught on camera berating a waitress in front of a group of customers.
The company was one of the few big restaurant chains to survive the Great Recession, but the recession is likely to continue, as the economy continues to recover.
The restaurant chain has had some setbacks over the past couple of years, with reports of an unpaid bill, a lawsuit against its CEO and an audit of the company’s finances.
Now, McMullens family is facing bankruptcy, as he faces charges that he used his company’s money to pay for his son’s wedding, and to pay his own legal fees in the divorce proceedings.
Remo was founded in 2004, and its founders, Paul and Julie McMullans, have two children together.
The company has over 500 locations, and has become a major player in the Philadelphia market.
The couple is expected to file for bankruptcy protection soon.
“We will not be able to continue to operate our business and will not have the resources to continue serving our customers,” McMullins family wrote in a statement on their company’s website.
“We ask that you please consider the pain and suffering we have been through as a result of this unfortunate event.”