The Office Grill’s Michael Costa, Texas Bear and Bull, LLC, filed for Chapter 11 bankruptcy on September 26, 2011, six days before he was to appear at hearing to determine if he’d breached his lease agreement. The next day, the Texas Comptroller revoked The Office Grill’s sales tax permit for lack of payment. Legally, The Office Grill can’t operate as a restaurant, yet, as of ten minutes ago, they were open for business.
On September 30, the landlord, 18020 N. Dallas Parkway, LTD filed a motion to convert the Chapter 11 filing to a Chapter 7. Chapter 11 means creditors are held off until reorganization or refinancing is obtained. Chapter 7 means there is no hope for reorganization and assets are to be distributed to creditors. A meeting of the creditors is scheduled for November 7.
The chef left right after Costa was arrested by the TABC on September 20 and Costa’s liquor license is suspended. He’s operating without a sales tax license, liquor license, and a chef? I’ll say this, the guy doesn’t go down easy.