Wednesday, December 31, 2008

Lender Seeks Receivership After Local Restaurant Holding Company Misses Payment

Posted By on Wed, Dec 31, 2008 at 2:15 PM

The parent company of Amerigo restaurant says it is in talks with GE Capital to restructure its $8.5 million debt after GE filed suit in federal court here seeking receivership. 

The lender claims that the debt of Vivid Restaurant Concepts LLC is greater than the value of the assets it offered as collateral on a loan originated in 2006. The loan was obtained by David Blackburn and Paul Schramkowski to buy the company and expand Amerigo restaurants into Louisville and Knoxville.

A Vivid spokesman said the action will not affect day-to-day operations at the eateries.

NashvillePost.com has a full story with additional details available today to subscribers and freely available later in the week.

Tags: ,

Comments (2)

Showing 1-2 of 2

Add a comment

 
Subscribe to this thread:
Showing 1-2 of 2

Add a comment

All contents © 1995-2014 City Press LLC, 210 12th Ave. S., Ste. 100, Nashville, TN 37203. (615) 244-7989.
All rights reserved. No part of this service may be reproduced in any form without the express written permission of City Press LLC,
except that an individual may download and/or forward articles via email to a reasonable number of recipients for personal, non-commercial purposes.
Powered by Foundation