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The 10-month-old Lolita’s Cantina & Tequila Bar in Las Vegas filed for bankruptcy Wednesday in hopes of restructuring more than $500,000 in debt and liabilities.
Despite its short history, records show Lolita’s at the Town Square mall has already been hit with two lawsuit judgments and these may have contributed to its financial problems.
One was for about $28,000 in favor of the Nevada Employment Security Division, which collects unemployment benefit taxes.
The other was for $23,532 in favor of F&S Corp., owner of Nevada Linen Supply. Its lawsuit said Lolita's failed to pay for linen and laundry services provided through January.
In its initial Chapter 11 reorganization filing, Lolita’s owner Ogapos LLC of San Ramon, Calif., listed estimated assets of $50,000 or less against liabilities ranging from $500,000 to $1 million.
Unsecured creditors include AdvanceMe Inc. of Kennesaw, Ga., owed nearly $67,000 for a business loan; as well as local vendors such as food, wine, spirits and beer providers Sysco Las Vegas ($99,500), U.S. Foodservice ($30,200) and Wirtz Beverage Nevada ($63,700).
Advertising provider Las Vegas Weekly, a sister publication to the Las Vegas Sun and VEGAS INC, is owed $14,700, the filing says.
The owner of a competing publication, Vegas Seven LLC, is owed another $6,800, the filing says.
A message for comment on the bankruptcy was left with the company’s attorney.
This is at least the second restaurant business to file for Chapter 11 in Las Vegas since Friday.
Nora's Wine Bar and Osteria LLC, operating at a shopping center at 1031 and 1037 South Rampart Blvd. in Las Vegas, near Charleston Boulevard, and employing 35 people, filed Friday and reported unsecured debt of more than $911,000.
That includes some $275,000 owed to U.S. Bank for a Small Business Administration-backed loan and $58,000 to landlord Peccole Nevada Corp./Rampart Commons Ltd. LLC for a tenant improvement buildout/expansion note.
The value of its assets wasn’t disclosed in the initial bankruptcy filing.