FOR IMMEDIATE RELEASE
CHICAGO — Delaney Law today announced an Emergency Temporary Restraining Order Hearing has been scheduled for Monday, February 9th at 2:30 pm at the Daley Center. Chicago-based La Guadalupana Wholesale Co. Inc., and the Castro Family are asking the court to immediately stop Bank of America from interfering with and/or disparaging the La Guadalupana brand and the Castro Family name.
“Since July the bank had every opportunity to give La Guadalupana the time they needed to turn their business around,” says attorney William Delaney. “When Bank of America became a Troubled Asset they went to Congress seeking relief. When La Guadalupana became a Troubled Hispanic Asset they went to Bank of America; the Bank denied relief. The most bizarre aspect of this case is that all La Guadalupana wanted was time – the company never asked for money or to avoid its obligations.”
Alderman Ed Burke (14th Ward) in support of La Guadalupana, notes the company has been an important member of the Chicago corporate community since 1945, “La Guadalupana and the Castro family are examples of stimulus at work. They create jobs, they are anchors of the Chicago Hispanic community, they are active in neighborhood organizations, and in return the community supports them by buying La Guadalupana products. La Guadalupana’s example reminds us that stimulating small business works.”
Representative Susana Mendoza (1st District) has read the complaint and says, “Middle Market companies such as La Guadalupana sustain this community. If Bank of America doesn’t want to support these businesses they shouldn’t take any money from the government. It appears they don’t understand how to operate in a community where a handshake and your word mean something.”
“We are dismayed that in the current economic climate, and especially considering that financial institutions have received taxpayer dollars to increase the flow of capital to small businesses, a prominent Hispanic-owned business like La Guadalupana finds itself in this most unfortunate situation,” said Omar Duque, President and CEO of the Illinois Hispanic Chamber of Commerce.”It is our hope and desire that this matter is resolved promptly in a manner that enables La Guadalupana to continue to operate, grow and create additional jobs in our community,” he added.
Fr. Larry Dowling, Pastor of St. Agatha Parish says, “For generations the Castro family has greatly contributed to the flavor and richness of Chicago’s Latino Community and beyond. La Guadalupana is one of those rare, long-established anchors of friendly, family-based businesses in our community, supporting not only the local community but, through their various suppliers, supporting the livelihood of many families and businesses.”
“La Guadalupana is among the most recognized businesses in our community,” saidJose Maria Gutierrez, board member of the Little Village Chamber of Commerce and President of El Dorado Real Estate. “La Guadalupana exemplifies the struggle and the triumph of all immigrants, it is sad that a company like Bank of America can ask for help for themselves but cannot afford the same courtesy to other business people.”
“Bank of America just doesn’t get it,” says Delaney. “The representatives Bank of America sent to a meeting Wednesday had little to no understanding of La Guadalupana’s core business. My clients were dismayed to learn that after more then three years as a customer of the Bank, it did not even know what Masa Preparada was; Masa is the chief ingredient in tamales and the main product of La Guadalupana. I struggle to see how Bank of America could have been in the position to guide my clients through difficult economic times.”
About La Guadalupana La Guadalupana was founded by the Castro family in 1945 in Chicago’s Little Village neighborhood. More than 60 years and 3 generations later, it is still in the business of making and selling Grandma Castro’s Mexican recipes. La Guadalupana employs 25 people in Chicago’s Little Village and Archer Heights neighborhoods, and is very active in the community providing scholarships, and sitting on boards including YMCA, Catholic Charities, and the Little Village Chamber of Commerce.
About Delaney Law Delaney Law, located in the heart of River North Downtown Chicago, has built a reputation as Chicago Trial Lawyers and for providing strategic counsel to a range of clients. The firm has successfully prosecuted cases to settlement or verdict throughout Illinois (Cook, DuPage, Kane, Lake, and McHenry), an array of courts (state, federal, Appellate and Seventh Circuit Court of Appeals), and a number of states (e.g. Florida, Washington, and Wisconsin) throughout the US. The firm also represents a number of International clients. www.delaney-law.com
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