Over a dozen nice restaurants closing & the group that owns them is being sued for over $8,000,000 in unpaid rent & food purchases. Fraud? Mismanagement? Expanded too big too quick? And how did the creditors let it get this bad before doing something about it?
What’s going on in Birmingham?
- Thread starter patdog
- Start date
Creditors want their money. If they work with them and let them slide a little it might get back on track. If they push too hard the business will get protection from the courts and the creditor might walk away with nothing.
Haven't seen this. What restaurants?
Nevermind. I see it. Those are some pretty good spots. Strange.
It's an ownership group that has been pretty well known to run restaurants into the ground, and they weren't paying their bills.
They are all owned by the same ownership group - Pihakis Restaurant Group. They grew extremely fast over the last few years, obviously too fast.
Link to one of the many news bits over the last week
Link to one of the many news bits over the last week
There's a reason the food service companies put restaurants on cash only, no credit as soon as it becomes apparent they're struggling. There ain't much to get once the thing fails.
I've got a feeling this will become a common story. This environment isn't conducive to the expenses of eating out.
I've got a feeling this will become a common story. This environment isn't conducive to the expenses of eating out.
Wow, this is even crazier than what was goin on at Augusta a few weeks ago.
"DROP THAT BEAT!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!"
"And that's what's goin on in Magic City!
And that's what's goin on in Magic City!"
...I won't quit my day job.
"DROP THAT BEAT!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!
"Pihakis bein sued for $8 Mil now!"
"Bein sued!"
"And that's what's goin on in Magic City!
And that's what's goin on in Magic City!"
...I won't quit my day job.
...I won't quit my day job.
[/QUOTE]
Yes, I think that would be best for you and yours MixmasterGlfr
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Yes, I think that would be best for you and yours MixmasterGlfr
Hero has some really good breakfast sandwiches. Not a fan of their fancy overpriced donuts though. Luca was just ok, nothing special, rodney scotts is good but too pricey and saws is better anyway, Little donkey was good but expensive for mexican.
Per my food critic 18 year-old, only the Litttle Donkey in Homewood was any good.