Down House Is the Latest Player in Treadsack's Bankruptcy Bowl
Is there not a trainwreck emoji?
Photo by Chuck Cook
Big thanks to the eagle-eyes over at Swamplot, who just reported on the not-unexpected filing of bankruptcy by Down House, the flagship Heights restaurant in the crumbling Treadsack empire.
The venerable restaurant's filing comes on the heels of a bankruptcy filing for Mothership Ventures, the entity behind Hunky Dory and Bernadine's.
Along with the initial filing, restaurant owners Chris Cusack and Joey Treadway are seeking a judge's approval to have access to enough cash to pay creditors and approximately 50 employees for the next two weeks.
The management of the Treadsack family of bars and restaurants came under scrutiny after the sudden closing of a nationally lauded restaurant, Foreign Correspondents, and its adjacent bar, Canard, in late 2016. The restaurants have incurred at least $1.1 million in federal tax liens, and hundreds of thousands in unpaid state taxes.
The group has also been sued by an early investor, who has claimed that Cusack and Treadway have blocked access to the establishments' books.
Cusack and Treadway have not responded to multiple requests for comment, but, based on Cusack's Facebook postings, the darling of Houston food media seems to be taking everything in stride.
On March 30, prior to the Down House filing, Cusack wrote:
"We've filed Chapter 11 for Hunky Dory and Bernadine's so we can restructure our debt and continue to operate. This was a very difficult decision, but the chance to save the businesses that all of our employees have worked so hard to build, and so many of our guests have supported, made it so obvious that this is worth fighting for."
Cusack also wrote that he was "feeling blessed," a sentiment effectively underscored by an angel emoji. Oy.
We hope to have more soon.
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