Company that owns Humpy’s and other Anchorage bars files for bankruptcy

A company that owns a cluster of bars in downtown Anchorage entered Chapter 11 bankruptcy protection last week after several creditors said they were owed millions of dollars. Hook Line and Sinker Inc., which owns Humpy’s Great Alaskan Alehouse, Flattop Pizza and Pool, and Bootleggers 8 Star Saloon, told a court Thursday it wanted to enter into Chapter 11 after the creditors group filed an involuntary bankruptcy petition — basically a lawsuit — against the company in December. A judge approved the conversion of the case to Chapter 11 on Friday. Another company, Fish or Cut Bait LLC, is owned by the same people and operates the Williwaw restaurant and venue complex — an ambitious project that opened in 2015 just across F Street from the other bars. In a bankruptcy filing this month, an attorney for Hook Line and Sinker cited “financial strain” from the Williwaw project as one reason for Humpy’s “current difficulties.” Dylan Buchholdt, one of the owners of Hook Line and Sinker and Fish or Cut Bait, said Tuesday there should be no change to the bars through the bankruptcy process. Chapter 11 typically allows companies to continue operating while they reorganize businesses. “It’s business as usual to the general public,” Buchholdt said. “We pioneered downtown Anchorage with Humpy’s 24 years ago. We’re going to do everything to make sure Humpy’s and its associated bars and restaurants are here for another 24 years.

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