{"id":2019,"date":"2026-06-08T18:05:41","date_gmt":"2026-06-08T18:05:41","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=2019"},"modified":"2026-06-08T18:05:41","modified_gmt":"2026-06-08T18:05:41","slug":"triangle-cheese-shop-files-for-bankruptcy-one-year-after-opening-what-happened","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=2019","title":{"rendered":"Triangle cheese shop files for bankruptcy one year after opening. What happened?"},"content":{"rendered":"<p class=\"summary\">AI-generated summary reviewed by our newsroom.<\/p>\n<p><a href=\"https:\/\/www.newsobserver.com\/news\/nation-world\/national\/article280707640.html\">Read our AI Policy.<\/a><\/p>\n<p>A Carrboro cheese shop remains in business after filing for bankruptcy, with nearly $1.4 million in debt just a year and a day after opening its doors.<\/p>\n<p>Read more <a href=\"https:\/\/durhammovinghub.com\/?p=2017\">Why Durham is betting on Legal Aid to prevent evictions amid rising rent costs<\/a><\/p>\n<p>The Cheese Shop, LLC, owner of Wedgewood Cheese Bar at 100-B Brewer Lane in Carrboro, filed for Chapter 11 bankruptcy on May 29 in U.S. Bankruptcy Court for the Middle District of North Carolina, records show.<\/p>\n<p>A Chapter 11 bankruptcy lets a small business reorganize its debt and seek better repayment terms from its creditors.<\/p>\n<p>The Cheese Shop co-owners Stevie Webb and his wife, Michelle Webb, are claiming roughly $117,000 in assets and a list of business and personal loans, credit cards, taxes and other debt.<\/p>\n<p>A bankruptcy filing shows the shop\u2019s income before expenses was over $1.3 million last year, up from $473,232 in 2024. Since Jan.1, Wedgewood has brought in $541,383, it says.<\/p>\n<p>\u201cWe won\u2019t be selling any assets,\u201d cheese shop attorney Lydia Carpenter said at a June 3 hearing. An audio file from the hearing was among documents filed last week by the court.<\/p>\n<p>\u201dI expect this to be a true reorganization of the company that should hopefully be able to operate without interruption going forward,\u201d she said.<\/p>\n<p>Bankruptcy Court Judge Benjamin Kahn signed an order last week allowing the shop to pay a week\u2019s worth of back wages, tips and payroll taxes \u2014 roughly $9,778 \u2014 to its full-time manager and 13 part-time employees.<\/p>\n<p>The Webbs, who also work in the shop, aren\u2019t getting paid but have filed a motion asking for $1,000 a week each while the case is resolved. They are also seeking a court order allowing them to honor 882 unredeemed gift cards worth about $34,572.<\/p>\n<p>Read more <a href=\"https:\/\/durhammovinghub.com\/?p=2016\">Brian Dietzen and Pauley Perrette Reunite After 15 Seasons of \u2018NCIS&#8217;<\/a><\/p>\n<p>There are multiple reasons for the bankruptcy, Carpenter told Kahn on June 3.<\/p>\n<p>The former Cheese Shop started at a farmer\u2019s market and slowly grew into an 80-square-foot corner of Glasshalfull restaurant on South Greensboro Street in 2023.<\/p>\n<p><a href=\"https:\/\/www.newsobserver.com\/news\/local\/counties\/orange-county\/article305373071.html\" rel=\"Follow\" target=\"_blank\"><u>A bigger shop opened on Brewer Lane<\/u><\/a> in May 2025 after a roughly half-million dollar renovation turned a former machine shop into a cheese and fine goods purveyor, Carpenter said. A bankruptcy filing shows the company owes $406,304 for Small Business Administration loans obtained in 2022 through the nonprofit <a href=\"https:\/\/ccifund.org\/\" rel=\"Follow\" target=\"_blank\"><u>Carolina Community Impact Inc.<\/u><\/a><\/p>\n<p>The company also took on more debt after the renovation, including over $130,000 in merchant cash loans \u201cthat very quickly became untenable,\u201d Carpenter said.<\/p>\n<p>Toast Inc., an app-based restaurant management software company, collected on the loans for WebBank by taking 15% of the business\u2019s daily sales, she said.<\/p>\n<p>Their business model, which involved multiple, salaried managers, was also unsustainable, Carpenter said. By the time they realized it \u201cwasn\u2019t quite right-sized to the actual receipts that were coming in,\u201d the damage to their first year of income was done, she said.<\/p>\n<p>Michelle Webb acknowledged the challenges in expanding a pop-up business to a 35-seat restaurant and cheese shop that also provides catering, events, and a monthly cheese club.<\/p>\n<p>As first-time restaurant owners, the renovation debt and labor costs got the better of them, Webb testified on June 3. The company now has about $10,000 in the bank, she said.<\/p>\n<p>Its lease runs through Dec. 31, 2029.<\/p>\n<p>\u201cWe had a cheese counter, but I think this kind of scale of a business was \u2026 we learned a lot,\u201d Webb said. \u201cBut I think the important thing to know is well before we filed, we recognized the issues, particularly on the labor side, eliminated salaried roles, and either replaced [them] with hourly [employees] or took on responsibilities ourselves.\u201d she said.<\/p>\n<p>Read more <a href=\"https:\/\/durhammovinghub.com\/?p=2014\">Faced with Stanley Cup Final deficit, Canes must now embody Southern resilience<\/a><\/p>\n<p class=\"summary gray\">This story was originally published <span class=\"inline-block\">June 8, 2026 at 1:18 PM<span>.<\/span><\/span><!-- --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wedgewood Cheese shop in Carrboro filed Chapter 11 with nearly $1.4M debt after a costly renovation; owners seek to reorganize while keeping the shop open.<\/p>\n","protected":false},"author":1,"featured_media":2018,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Triangle cheese shop files for bankruptcy one year after opening. 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