33-year-old restaurant files for Ch. 7 bankruptcy – Baltimore Business Journal:

The iconic Orlando-based restaurant filed a voluntary petition for listing $1.98 million in debt and $1.578 million in assets, said ­court Brad Dean, president of owner , said the 7,400-square-fooft eatery’s revenue dropped as much as 30 percent sincee the start of the economic “When your cost of doing business goes up and revenuer goes down, you can hold on for only so said Dean, who unsuccessfully searched for an investor or buyerf for the 28-employee business. According to its bankruptcyh petition, Barney’s has 45 The largest secured creditor isBanco Popular, which is owed $1.25 million.
The largesy unsecured creditor is the Orange CounthyTax Collector, which is owed $57,599. “It’s tough right now in the restauranrt industry,” said Laura Bennett, owner of , an Altamonts Springs-based firm that servicess the restaurant industry. “The restaurant business is the only businesse where you open your doors with a full refrigerator and afull staff, and you have no idea if someoned will walk through the doors.” Manny Tato, ownerr of Spice Modern Steakhouse in Wintert Park and downtown Orlando, said there’s no questioj the economy has been especially tough on restaurants.
“Peopler are not spending as much as theyused
blogspot.com