North Forty Files for Bankruptcy in the Northwest

Yowza. Here’s one way to stop an eviction. Stoney’s North Forty LLC, yes the company behind North Forty Saloon & Barbecue in the Northwest, just filed for bankruptcy to avoid eviction.

The “Stoney’s Rockin’ Country bars on Las Vegas Boulevard South and in Evansville, Ind., [are] not part of the bankruptcy proceedings,” says Vegas Inc.

The company filed for Chapter 11 bankruptcy reorganization last week on Friday. The restaurant says a downturn in the economy caused it to fall behind on rent. Centennial Center LLC, the landlord, filed an eviction lawsuit on July 13. Centennial Center is owed more than $600,000 in back rent, and North Forty claims estimated liabilities that top $1 million. Vegas Inc says Its assets are valued at between $100,000 to $500,000.
· Stoney’s North Forty Files Bankruptcy To Block Eviction [VI]
North Forty [Photo: Judith M./Yelp]