Longoria’s Beso Restaurant files for Bankruptcy

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Beso Restaurant in CityCenter, Las Vegas, partly owned by Eva Longoria, has filed for Chapter 11 reorganization bankruptcy. In bankruptcy papers filed in bankruptcy court in Las Vegas, the restaurant listed debts of almost $5.7 million. It has assets of about $2.5 million.

Beso LLC is 32% owned by Longoria and together with its nightclub called Eve have projected monthly losses of $76,000. With such ongoing losses, it is anticipated that Beso would face problems meeting its obligations towards its lease. It already owes $1.8 million to its landlord, Crystals at CityCenter. CityCenter is a resort complex which was opened by MGM Resorts International in December 2009.

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Published In: Bankruptcy Updates, Mergers & Acquisitions Updates, Commercial Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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