Current posture

What matters now

Sailormen is in a post-sale wind-down, with the principal immediate issue being authority to use BMO’s cash collateral for remaining administrative and post-closing expenses. BMO has opposed portions of that request, arguing that the debtor is no longer operating or generating replacement revenue and that the disputed expenditures lack adequate protection in light of the collateral position and sale proceeds, in its limited objection to the wind-down cash-collateral request Dkt. 850. The Court has set a September 3 status conference on that motion in its continued status-conference order Dkt. 875; that date also carries a preliminary hearing on RFI Ventures’ effort to enforce the sale order and compel turnover of $2.5 million held in escrow under its hearing-setting order Dkt. 876. The debtor filed Chapter 11 on January 15, 2026 to preserve its Popeyes restaurant business for a going-concern sale amid cost and labor pressures, underperforming locations, lease exposure following a failed sale of 16 Georgia restaurants, and a BMO-led receiver action, as described in the CRO’s first-day declaration Dkt. 9. Its capital structure was dominated by approximately $112.4 million…

Updated Aug 14, 2026