Over at The News…
Filed just before the holiday weekend, Ilitch Holdings, parent company of Little Caesar's Pizza and two of Detroit's major sports teams filed for Chapter 11 corporate restructuring, citing "changes in consumer and employee behavior.”
The blanket bankruptcy includes Olympia Entertainment, leasee of the properties on which stand the recently-completed Little Caesars Arena, the Fox Theatre and Comerica Park. The restructuring leaves the City of Detroit with many, many unanswered questions regarding the Little Caesars Arena, first of which is if Olympia will default on past and future leasing payments to the city.
The Freep adds…
A spokesman for Ilitch Holdings in a prepared statement wrote, "[…]the challenging real estate investments coupled with signs of a potential global recession and high inflation have increased concerns for Ilitch Holdings.”
Neither CEO Christopher Ilitch nor Mayor Mike Duggan were available for comment at time of this writing.
From CNN's Travel Destinations, a possibly-related(?) article, More than Darwin and tortoises…
We found Kelle Ilitch, is in the Galapagos with family members. "Spending time on or in the water is a must," says Ilitch, "whether that means you're ready to jump in with your snorkel for a sea lion swim or are happy to enjoy the views from the deck of your adventure cruise. The islands are a once-in-a-lifetime destination for the whole family!"
Useful links/further reading:
- The Detroit News: Ilitch Holdings files for bankruptcy
- The Freep: The Ilitch Chapter 11 Black Hole
- The Metro Times: Fasting LGBTQ+-exclusive Dispensaries on OnlyFans wearing only keffiyehs…uh, what were we talking about? via archive.is