Back in March of 2012, two companies associated with waterfront restaurant Shooters filed Chapter 11 bankruptcy. According to the South Florida Business Journal, Roscoe, LLC (DBA Shooters) and BIMA, LLC filed for bankruptcy protection following a $10.5 million foreclosure lawsuit filed by FirstBank against BIMA, LLC, the company that owns the property that both Shooters and Bootleggers sits on.
About a month later, Shooters owner John Wile filed for personal Chapter 11 bankruptcy protection.
Chapter 11 bankruptcy protection allows a company, or person, to
restructure debt with the help of a trustee appointed by the court.
Debts are generally not forgiven, but a company is usually allowed to
continue to operate, with the goal of becoming financially healthy in
We recently learned that Chapter 11 filings for
Roscoe, LLC and BIMA, LLC have been converted to Chapter 7 filings on
July 10, which usually signifies a liquidation of assets in order to pay
debts. We did not confirm the status of the John Wile's personal
But fans of the waterfront restaurant's food, drinks,
and hot body contests need not panic. According to Shooters' controller
Lauren DaVila, the restaurant will continue to operate, despite the
Chapter 7 bankruptcy. According to DaVila, the court wants the iconic
restaurant to stay open, but with a trustee monitoring the operations.
the financial logistics of the restaurant that's been operating since
1982, boaters will continue to tie up at the establishment's dock on
weekends for a cold beer and a bite.
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