Welp, another one bites the dust....look who's business just went bankrupt..

[doublejs07]

Honestly, who didn't see this one coming...

The Sideline Bar and Grill in Largo, owned by former Washington ******** star linebacker LaVar Arrington, has filed Chapter 11 bankruptcy.

Arrington opened the sports bar and restaurant at the Boulevard at the Capital Centre in January 2008, offering live comedy and musical performances, along with 33 televisions and a universal sports motif.

The Sideline was in the news after a 35-year-man from Bowie was shot and killed outside the restaurant March 1. At the time, Sideline management said no patrons or employees reported seeing any physical fighting inside the bar and that the fight took place 120 feet away from the front door.

Documents filed with the U.S. Bankruptcy Court in Greenbelt revealed no reason for Arrington's petition.

According to the filing, The Sideline, part of F.A.M.M. LLC, has up to an estimated $50,000 in assets and between $1 million and $10 million in estimated liabilities.

Besides $12,000 in total debt to Pepco and Washington Gas, The Sideline's largest debts are $766,268 owed to Commercial Interiors in Marriottsville and $330,142 to L.H. Cranston & Sons Inc. in Baltimore.

Calls to Arrington and his attorney were not returned.


Link

 

[importking]

LAVAR IS A FOOL

 

[jupeezy]

smh.....hate to say it but who else saw this one coming?

 

[eyes of hazel]

Slim,

It ain't been 24 months yet.

.................FOH......................

Dudes need to go to school, and actually GRADUATE.

I ain't the smartest man in the world... but 50k in assets, and a figure between 1 - 10 MILLION in liabilities....

Who does the balance sheets for some of these "business" owners? Stevie Wonder?

Before you know how much cash you got, you should know WHO and WHAT you owe -- especially in this economy.

And that's before the IRS gets at you.

tisk. tisk.

And a 12k gas bill??? Overdue? That's like a student loan. That ain't neeeeeeeeeeeeeever going away. They getting they bread!

 

[lavan emanuel]

This is not a surprise.

It's the Boulevard.

 

[flip sensayshun]

Geez.
LaVar fell off way hard after the ********

 

[destination kicks]

I swear man cats these days... Let me get a business!

 

[rockdeep]

Well while everyone is not surprised because its the Sideline and all the stuff thats happened.. Im with Kev.. You only have 50 thou in Assets but you got allthat liability?

From what I heard in this joint (Lavan, Ian, others etc) that place stayed packed....

So this aint Mismanagement.. this is NO management. Someone was takin the Cash and runnin... High Gas Bill means lots of food made and Warmin up the spot. but12K goood night.

Someone has ALOT and I mean ALOT of cash in their pocket and all Lavar had to do is put up a little Capital and get his return and roll out.

I mean come on. Lavars GOT money. Snyder paid him a a grip and the money he got from the Giants could have paid for the Sideline IN FULL...

But you have to know you gotta pay ALL your creditors FIRST.. Bills NEXT...and take Profit and overflow last...

I am more than sure from just the surface alone... it happened in reverse order with the last two not happening at all.

 

[bmorekicks]

I'm still surprised he gave the Skins 5 mil to get out his contract. That move proved he wasn't that bright.

 

[dcshoechick]

For real, no one probably saw it coming. Like Rock said, it stays packed. This is bad management/accounting straight up. The incident had nothing to do withit. When someone first discovered the money problems, they should've been on it ASAP and worked on a turnaround. The issues should have BEEN discoveredseeing as though the place has not even been open 2 years. That's nuts.

Ah well. Hope this doesn't effect my gig there next Sunday. Can't be messing up my money just cuz the venue's money is messed up. lol

 

[bigtomgetsgwap]

Damn

that's crazy

 

[willis03]

 

[parada45]

That sucks for Lavar

Did anyone here ever go there?

 

[varisoxfan]

A dumb football player from Penn State..and his restaurant in a shopping mall failed?!?!?

NO WAY!!

 

[savonne]

I'll give it 1 full year for the BLVD to be shut down..All the Major stores are closing..Circuit City, Office Depote, Big Screen Store, now this..The onlything thats gonna make money is Golden Coral..They should have kept the idea of making it an indoor shopping center..Largo is not Bowie..

 

[eyes of hazel]

^
Truth.

But I don't think anyone -- even the most pessimistic business owners -- expected the economy to affect retail like it has, even in the "urea".

You can go to any mall and see a few more "black spots" than usual these days.

Sad.

 

[ican]

sad thing is...

he opened as a sports bar, yet he had security detail and a dress code...AT A DAMN SPORTS BAR.

by him trying to operate as a night club was his FAIL.

there in lies the problem..

 

[jrose5]

Originally Posted by eyes of hazel

Slim,

It ain't been 24 months yet.

.................FOH......................

Dudes need to go to school, and actually GRADUATE.

I ain't the smartest man in the world... but 50k in assets, and a figure between 1 - 10 MILLION in liabilities....

Who does the balance sheets for some of these "business" owners? Stevie Wonder?

Before you know how much cash you got, you should know WHO and WHAT you owe -- especially in this economy.

And that's before the IRS gets at you.

tisk. tisk.

And a 12k gas bill??? Overdue? That's like a student loan. That ain't neeeeeeeeeeeeeever going away. They getting they bread!

JR5

 

[nuvision]

Damn now this and so did 6flags.