NEW YORK (CBSNewYork/AP) — A company behind one of New York City’s most beloved bagel makers says it is bankrupt.

H&H Bagels founder Helmer Toro sought Chapter 11 protection on Thursday for one of the entities that make up the business.

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In court papers, he blamed the economy and a rent dispute for the problems of the company, Garden Operation Realty.

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The court filing listed $5.1 million in debt. The company said it believed it could recover.

The bankruptcy filing will put a hold on a separate legal action that might have led to H&H getting locked out of a bakery in Secaucus, N.J.

The H&H shop on Manhattan’s Upper West Side remains open, as does a shop on West 46th Street.

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Comments (3)
  1. Irv the merv says:

    This company has done nothing but avoid taxes and hidden it’s
    assets and to boot the bagels stink as they are to sweet from sugar
    and I am just talking about the plain bagel,

  2. sally rogers says:

    I guess the BEST BAGEL IN NYC, JUMBO BAGEL finally did them in. No loss for losing H & H. Over rated for years!

  3. Thomas says:

    That’s one expensive $ 5,000,000 Bagel , what the hell is the interest on that money even on the $100,000 something is wrong with that kind of money they owe

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