THE DEVELOPMENT CORPORATION :: Our Business Community :: Corporate Relocation Services, Commercial Real Estate, Warehousing and Storage

Plattsburgh, NY --March 26, 2009 – The Development Corporation, Clinton County New York (TDC) is saddened to learn that its tenant, Home Bistro Foods, Inc has filed for Chapter 11 Bankruptcy Protection as of Friday, March 20, 2009. According to the US Courts website, www.uscourts.gov, Chapter 11 does not necessarily mean closure for a business, but most often is utilized to allow the debtor to propose a reorganization plan to keep its business viable and pay creditors over time.

On Monday, March 23, 2009 TDC was made of aware of this unfortunate news, as TDC’s interest in Home Bistro includes being both its landlord and a creditor. The Development Corporation is one of four secured creditors identified in the filing. Other funding streams were provided through the North Country Alliance (NCA) and other local lenders. The City of Plattsburgh Empire Zone was also instrumental in helping the company at the initiation of the business here in Clinton County.

Home Bistro Foods, Inc, formerly known as Cuisine Sous-Vide, Inc, is well known for their elegantly prepared, restaurant-quality meals which are innovatively processed for home delivery. The company previously operated in Fairfax, VT before relocating to their current location in TDC’s Banker Road Industrial Park at 190 Banker Road, Plattsburgh, NY in April 2003 leasing 27,250 SF. The company was first introduced to The Development Corporation back in 1999. It was through the innovative thinking of former Presidents Douglas MacGarvey and David Thompson and Vice President and Chef J. Scott Stillman that the relatively new company experienced significant growth and needed to expand its operations. Home Bistro currently employs over 60 people in our community.

Adoré F. Kurtz, President of The Development Corporation, said “Home Bistro has been and continues to be an excellent tenant of TDC. It is important to recognize the manufacturing process innovation they brought to our community. Sous-Vide processing is now a prominent method for restaurants and home chefs. The recent news is very unfortunate but we remain optimistic that the company will be able to reorganize and retain their valuable employees.”

Fortunately, the opportunity for retraining and job-placement exists in our community with several new businesses locating in the Town of Plattsburgh and Clinton County recently. Through the collaborative efforts of several local workforce agencies and economic development partners there are opportunities for new employment and increased job-skills for many residents.

The Development Corporation is a not-for-profit economic development corporation with over forty-five years of economic development activity in Clinton County. The corporation develops industrial parks, markets the county for new business investments, and works to retain and expand local industry. The corporation also administers the County of Clinton Industrial Development Agency, the Town of Champlain Industrial Development Agency, the Clinton County Empire Zone and Clinton County’s Foreign Trade Zone.