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Pihakis Restaurant Group Collapses | Charleston News
Nick Pihakis, founder of the once-booming Pihakis Restaurant Group, has filed for Chapter 7 bankruptcy, liquidating his assets to pay off nearly $44 million in debts—far exceeding his $10.6 million in claimed assets. The collapse followed the shuttering of over a dozen restaurants this spring, leaving landlords, suppliers, and lenders scrambling for repayment. With personal guarantees on loans and leases, Pihakis now faces more than 23 lawsuits totaling over $23 million in unpaid bills. As the corporate offices go dark and the empire crumbles, new businesses are already moving in to occupy…
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