CBGB's Owners File for Bankruptcy
Tue, 15 Jun 2010 12:57:42
The folks who own the CBGB brand name have filed for bankruptcy as CBGB Holdings LLC. They filed last Friday, listing millions in debts, but did not give a specific reason for the filing. I would think that that millions owed to debtors and an inability to pay back creditors would be enough of a reason, but, hey, what the hell do I know?
The CBGB name and intellectual property rights were sold to investors in 2008. The original, storied NYC venue shut its doors in 2006. Owner and founder Hilly Kristal passed about a year later, which reminds me of those old couples who've been married for decades. When one dies, the other passes soon after, even if relatively healthy, due to the sadness from the loss of their lifelong partner. Seems like this is the case for CBGB and its owner, no?
Did you ever see a show at CBs? I saw hundreds. I miss it and the Lower East Side is not the same without it.