Eva Longoria's Restaurant Beso Files for Bankruptcy
Posted on January 8, 2011Eva Longoria is having a rough time of it lately. First the divorce and now some bad financial news. Her Las Vegas restaurant Beso is bankrupt according to a story from E Online. The restaurant has $5.7 million in debt that it will try to restructure in Chapter 11 bankruptcy proceedings. Revenues are good, but the company has been operating at a loss. Las Vegas has been hit hard by the recession. E! reports:
Per the Las Vegas Sun, Longoria's business, Beso LLC, is seeking Chapter 11 protection in U.S. Bankruptcy Court for assets totaling $2.5 million after the City Center-based restaurant and its adjoining nightclub, Eve, had trouble keeping up with the lease.Eva owns 32% of the company, and loaned it $1 million in cash. There are multiple lawsuits which probably triggered the filing.
Despite grossing $14.6 million over the past year, court records show Beso racked up some $76,000 a month in losses and owes $1.8 million to landlords Crystals. Not to mention that Longoria's company owes a bunch of contractors for construction work and some former partners who helped finance the building. A number of those investors have subsequently sued Beso LLC to get their money back.