This is a public record generated listing.
Assets of Restaurant and Bar Business
Listing Information
Attachments
Assets of Restaurant and Bar Business
Price: Not Specified
Other Item Info
Item #: miwbke_382772
Created: 07/13/2020
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Grand Rapids, Michigan
Sale Date: Tue. Aug 25, 2020
Created: 07/13/2020
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Grand Rapids, Michigan
Sale Date: Tue. Aug 25, 2020
Seller Info
Elisabeth M. Von Eitzen
Debtor's Attorney
111 Lyon Street, NW, Suite 900
Grand Rapids, MI 49503
616-752-2418
Debtor's Attorney
111 Lyon Street, NW, Suite 900
Grand Rapids, MI 49503
616-752-2418
Bankruptcy Info
Case #: 1:20-bk-01947
Case Title: Barfly Ventures, LLC
Court: Michigan Western Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Barfly Ventures, LLC
Court: Michigan Western Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of Barfly Ventures, LLC, et., al. ("Sellers"). The seller's business was founded in 2008 with the opening of HopCat in Grand Rapids, Michigan, a specialty casual food and bar concept with craft beer and made-from-scratch kitchen cooking. The sale assets including their leasehold interests in designated leases, accounts receivable, certain bank accounts, inventory, equipment, intellectual property, liquor licenses, and recipes.
Assets for sale is more particularly described in Exhibit A from Page No. 54-57 on the attached PDF.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
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Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Sale Location
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Grand Rapids, MI, 49503
Additional Details
- Auction Time: 10:00 a.m.
- Sale Hearing Held on August 27, 2020 at 10:00 a.m.
- Purchase Price: A credit bid of the Prepetition Obligations in the initial amount of $17,500,000, but not to exceed $20,000,000, plus the amount of the Assumed Liabilities identified in Section 2.3 of the Stalking Horse Agreement.
- Minimum Initial Overbid Amount: It has a value to the sellers that is greater than the sum of the Stalking Horse Agreement, plus the Stalking Horse Protections, plus $100,000.
- Bid Increment: $100,000
- Bid Deposit: 10% of the purchase price
- Bid Deadline: August 21, 2020
- Last date to respond: August 26, 2020