*This post has been updated to reflect that Isabella filed for a Chapter 11 versus a Chapter 7, the difference explained below.
Les Moonves and Top Chef Mike Isabella
The powerful Me Too Movement (#MeToo) brings down another.
Les Moonves, the head of CBS, resigned after dozens of accusations of sexual harassment and sexual misconduct, and the next one on the list is Celebrity Chef Mike Isabella. However, for Isabella it is even worse.
- Les Moonves May Get $120 Million Payout After Sexual Harassment Claims
- Harvey Weinstein’s Company Filing for Bankruptcy
The “Top Chef” has been forced into bankruptcy as a result of a sexual harassment lawsuit. Isabella is the owner of twelve restaurant locations.
Isabella’s problems started with Chloe Caras, a top manager in his organization, accused Isabella of touching her and speaking of her buttocks. While the lawsuit was settled earlier this year, sales hit rock bottom and employees quit.
Alexander Hernandez, Esq.
Previous reports in the media had Isabella filing for a Chapter 7 bankruptcy. Even though he owns multiple restaurant locations, that is still a possibility with any business.
However, in Isabella’s case, he filed for Chapter 11 which is a re-organization of debt, similar to a Chapter 13 for consumers, which is a monthly payment plan that ranges from 36 – 60 months.