The Pinewood in Decatur and the Mercury at Ponce City Market file for Chapter 11 bankruptcy
[adsanity id=”53103″ align=”aligncenter” /]
This story has been updated.
The companies behind The Pinewood in Decatur and The Mercury at Ponce City Market have filed for Chapter 11 bankruptcy.
Bankruptcy petitions were filed by both restaurants on Oct. 12. The news was first reported by the Atlanta Business Chronicle.
A message was sent to the owners seeking comment. In the bankruptcy petitions, Earl Cloud is listed as the owner of both companies. Julian Goglia, a partner in both restaurants, explained the situation in a comment left on the Decaturish Facebook page. He indicated the bankruptcy was related to another project that didn’t pan out: Bar Americano in Buckhead.
“With all of the Bar Americano space’s issues, we decided to restructure the debt and move forward,” he wrote. “There won’t be any disruption in service or any day to day changes at Mercury or Pinewood.”
The bankruptcy petitions show the Pinewood owes hundreds of thousands of dollars to various creditors, including $38,087 owed to the Georgia Department of Revenue.
Here are the bankruptcy petitions filed for each restaurant:
[adsanity id=”43479″ align=”aligncenter” /]
[adsanity id=”53545″ align=”aligncenter” /]
[adsanity id=”38887″ align=”aligncenter” /]
[adsanity id=”33719″ align=”aligncenter” /]