Businessman Takes Life after Filing for Chapter 11

Police are investigating the case of a businessman who took his own life last week in Aspen.

The restaurateur moved from Las Vegas to Aspen last year in 2008 to open up a restaurant and club. Just a few years later, he was millions of dollars in debt. At the end of September he decided to file for Chapter 11 bankruptcy. At that time, he listed assets and debts between $10 million and $50 million.

While his enterprise enjoyed success when it first opened, even landing him an award in Aspen, but it was short-lived. By the end of that ski season that same year, he was forced to shut down both the restaurant and the bar. He was slapped with several liens and lawsuits for alleged non-payment of bills. In a public statement, he said that he had intentions of paying back his debts but was unable to since his funds were tied up with former investors.

Are you facing Chapter 11 in Illinois? If so, contact Bizar & Doyle, LLC as soon as possible to discuss your business finances with an experienced Chicago bankruptcy lawyer from our law office.