09/13/2009 05:12 am ET Updated May 25, 2011

Burger King Franchisee In Brooklyn Goes Bankrupt

A major Brooklyn Burger King franchisee, AJA New York Restaurant Holdings, filed for Chapter 11 bankruptcy protection. Citing assets between $1 million and $10 million, and liabilities in the same range, the company owes money to fewer than 50 creditors.

AJA New York, under the leadership of Chief Executive Alfred Poe, three years ago acquired the nine Burger Kings, located in Brooklyn and Queens, from N.J.-based Coastal Management Corp.

Read more on Crain's New York Business