Pizza on Wheels files for Chapter 11

July 22, 1991

A headline in two editions of yesterday's Money at Work mistakenly said Pizza on Wheels at 11810 Reisterstown Road filed for protection under Chapter 11 of the U.S. Bankruptcy Code. In fact the company filed under Chapter 13. Under Chapter 11, a business is allowed to operate under court supervision to pay off creditors. Under Chapter 13, the court establishes a repayment schedule for the debtor. The Evening Sun regrets the error.

The owner of the Pizza on Wheels at 11810 Reisterstown Road, has filed for protection under Chapter 13 of the U.S. Bankruptcy Code.

The owner of the pizza delivery, Kenneth G. O'Dea Jr., listed unsecured debts of $71,766 and secured debts of $349,088. The secured debts included $59,228 owed to the Internal Revenue Service, a $210,000 mortgage with Household Mortgage Services Inc., and a $24,000 loan from the Bank of Maryland for business equipment.

Robert W. Taylor Jr., the lawyer representing O'Dea, said the pizza store will remain open during the reorganization.

FOR THE RECORD - CORRECTION

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