Cibus Holding LLC, the Denver-based company that sought to acquire the assets of the Spicy Pickle sandwich shops as well as the franchise agreements, won the bidding during today’s auction.
Neither the bidding amount nor what the new owner intends to do with the assets were disclosed.
Cibus Holding and its subsidiary Cibus Franchising LLC list Patricia Stacey Reed as their registered agent on Colorado Secretary of State documents.
Patricia Reed and her husband Presley are listed as lenders who were owed more than $4 million when Spicy Pickle defaulted on its loans Feb. 2.
Cibus will likely take over the embattled chain, which includes a company-owned store in Greenwood Village as well as 22 franchised restaurants in nine states.
The five franchisees in Colorado have stayed open and operating through the legal entanglement. The publicly traded chain of sandwich shops closed six company-owned stores Feb. 6 after defaulting on roughly $4.75 million in loans.
Penny Parker: 303-954-5224 or pparker@denverpost.com
