Owner of closed Trader Vic’s files for bankruptcy

By Steve Green

Thursday, Jan. 7, 2010 | 9:02 a.m.

Facing lawsuits over unpaid bills, the owner of the closed Trader Vic's restaurant in Las Vegas filed for Chapter 7 bankruptcy liquidation last week.

The Polynesian-themed Trader Vic’s opened in 2007 in the Miracle Mile Shops at the Planet Hollywood Resort on the Las Vegas Strip. But last June, the company confirmed it was shutting down.

The Las Vegas location was the only Trader Vic's in Nevada. The Trader Vic's franchise company in Emeryville, Calif., now lists Trader Vic's restaurants elsewhere in the United States and in Europe, the Middle East and Asia.

The Las Vegas restaurant generated revenue of $1.368 million in 2007, $5.961 million in 2008 and $2.033 million in 2009, records filed in U.S. Bankruptcy Court for Nevada in Las Vegas show.

The Las Vegas restaurant's parent company, Boulevard Bar LLC, listed in its bankruptcy filing no assets and liabilities of $14.267 million.

Companies listed as creditors include Service 1st Bank of Nevada, owed $5.05 million for a loan covering furniture, fixtures, machinery, equipment and supplies.

Several construction companies involved in developing the property are also listed as creditors. They include Bombard Electric, owed $280,000; and Flagship Construction Co., owed $2.925 million.

Numerous companies that provided advertising services are listed as creditors, including Greenspun Media Group, owner of the Las Vegas Sun.

Greenspun businesses Las Vegas Magazine, Las Vegas Weekly and Vegas Magazine Partners are owed about $79,000, the court filing says.

Among other media claims, 944 Media is owed $19,600 and Clear Channel Taxi Media is owed $166,000, the court filing says.

The Trader Vic's franchise company is owed some $247,000, the filing says.

Greenspun Media is among 10 companies and individuals that have sued Boulevard Bar LLC in Clark County District Court over issues including unpaid bills.

Other suits were filed by plaintiffs including U.S. Foodservice, owed $30,000; and Southern Wine & Spirits of America, owed $22,000.