There still seems to be a lot of confusion about the foreclosure of Bar One. Last season, there were many teasers about the foreclosure that indicated this was somehow a financial failing of Peter’s. However, that is simply not true. The short version of the story is that like many restaurants, BarOne rents the space from the building owner. Peter has paid his rent every month to the owner. The owner however has been spending the rent on rims for his car and red bottom shoes or something rather than paid his mortgage on the building. Now the bank is trying to foreclose on the property.
During a recent interview by Uptown magazine, Peter was at BarOne waiting to meet with realtors and lawyers and the building owner to once again attempt to purchase the property. Once again, the owner did not show up. I would think that Peter could probably negotiate directly with the bank by now, but these things tend to become overly complicated with red tape, and the possibility that he will have to relocate BarOne still exists. And the owner of Cynthia’s new location for her agency across the street is the same damn owner who doesn’t pay his bills. It’s a mess y’all. Continue reading