Sunset Filing for Bankruptcy

Yea, I didn't really let that sink in. Very true

 

I laugh every time I see a post by somebody named @EnronCFO talking about Sunset's finances.

Sunset is still one of my go-tos if I'm going out with people who aren't necessarily beer nerds like ourselves. I've learned not to get IPAs there and also experienced the high gravity beer in a pint glass "issue" (BA Framinghammer) but generally like the place.

I don't know how commercial real estate works, but how did the landlord let them get so delinquent in rent? I have no idea what their rent would be, but $4.2M has to be several months at least.

 

The restaurant is doing very well despite the need to file for Chapter 11 bankruptcy protection. Chapter 11 is simply restructuring to set up a plan to pay off past debt. From what I know, the majority of the debt causing issues was adopted from when the new owners purchased Sunset from Marc Kadish. The back taxes of $500k are all from the former owner. The $4.2million is an investment, not an immediate debt. From what I have been told, the business has actually been doing great in sales since it was bought by the new owners and will continue to do so because they have taken this correct course of action.

So taking this all in, don't we think we should support them rather then hope for the worst? I know where I'm drinking tonight! Sunset!!

 

Nice try sunset owner. The good chapter 11 spin is awesome but false. Ive worked for 2 restaurants under chapter 11. It is not good and your store WILL close within 11 months unless you meet specific guidelines. Couple that with with the vendors you have screwed to aquire this debt and it is an uphill battle at best.

Have a few good memories at your spot but it's time to tuck it in.

 

Not blaming former owner, stating the exact facts from the Boston Globe article. It clearly states that the debt was inherited from the former owner.

 

Exorcism at Sunset, indeed

 

I've got fond memories as well of the place. It helped me get into my beer hobby back about 10 years ago. I wasn't drinking IPAs then tho... the rage then was strong or esoteric beers I believe. I actually thought the food was pretty good then, but I had just graduated undergrad and my standards were likely different than they are now. If I was to go seeking a beer out in the area now, I'd probably go to Lulu's or Deep Ellum.

 

I suppose it doesn't matter where the back taxes came from, since when the new owners acquired the business, they acquired the responsibility to pay them. If they didn't know, well that's just bad diligence or a bad agreement at best. There is always the likelihood that there were other liabilities that were not discovered. The best example I have heard of was when the European (North End) didn't pay their water bill for decades as I think they were allegedly fixing the system in some way to not get charged. If someone had acquired that business, that may not have been immediately understood.

Undoubtedly, there is something else unstated here as the restaurant did a fair bit of business. Unfortunately, austerity is not a great theme when you are talking about preparing food.

 

Perhaps a better title for this article would have been, "The Sun is Setting on Sunset Grill and Tap" or something like that.

Fond memories of going there before the craft boom, just like everyone else in this thread. I actually kinda dug the food back in the day, but like some others, my tastes may have changed over the years as I got older.

I honestly thought their tap list was decent, and unlike most, I can't remember receiving too many (if any) bad draft pours.

But, I can't say it's a spot I've been to for years. Too much stiff competition, especially in my own area. I'll wax nostalgic in this thread, but I won't head to a place simply because I used to love it. If I was in the area these days I'd want to check out LuLu's (never been), and of course I always swung by Deep Ellum when in the area. Unfortunately, if you don't keep up with the times, shit happens. Although this thread seems to indicate that they're still busy...

For example, I live in Somerville, I don't frequent Redbones as often as I used to, as many of the taps are stuck in 2004 (Opa Opa IPA still? Really? Young's Double Chocolate Stout?), and for some reason they have 7 - 9 ciders on tap as well. I love the place, but there's better options for beer in my immediate area.

 

Go there and order the jerk beef with a Young's Double Chocolate Stout. Thank me later.