Stoney’s North Forty files bankruptcy to block eviction
7 August 2012
Stoney’s North Forty LLC, owner of a barbecue restaurant and saloon in northwest Las Vegas, has filed for bankruptcy to block eviction proceedings.
The company is associated with the Stoney’s Rockin’ Country bars on Las Vegas Boulevard South and in Evansville, Ind., though they’re not part of the bankruptcy proceedings.
When it opened initially at Santa Fe Station hotel-casino in late 2008, co-owner Stoney Gray said the northern Las Vegas Valley location would be an alternative for customers in that area who didn’t want to make the drive to the original Stoney’s near the South Point hotel-casino.
The northwest Las Vegas restaurant is now marketed simply as "North Forty" and has relocated to the Centennial Center development near the Las Vegas Beltway and U.S. 95.
It filed for Chapter 11 bankruptcy reorganization on Friday.
It was hit with an eviction lawsuit in Las Vegas Justice Court on July 13 by Centennial Center LLC, its landlord for the premises at 5990 Centennial Center Blvd.
Christopher Lowden, one of the managers of North Forty, said in a court declaration that the business fell behind on rental payments because the downturn in the Las Vegas economy caused a "significant decrease in business revenue."
In its Chapter 11 bankruptcy petition, North Forty didn’t immediately disclose detailed financial information.
It did say Centennial Center is owed more than $600,000 and that its estimated liabilities top $1 million.
Its assets are valued at between $100,000 to $500,000.
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