Love's owner files for bankruptcy
Marc Barnes, owner of two of D.C.'s biggest nightclubs, has filed for bankruptcy.
The Wall Street Journal reports that Barnes, his clubs Love and the Park at 14th, filed Chapter 11 petitions last week to ward off creditors and ensure the pending sale of Love.
“By the filing, [Love] sought to protect its real estate holding, which consists of a parcel of commercial property, currently the subject of a contract of sale,” said bankruptcy attorney Kim Y. Johnson in court papers.
Love was forced to close after a non-fatal stabbing on New Year’s Day. It was the third violent incident within a week at the club. Love also was damaged by February's historic snowstorms.
Check out what Mike DeBonis has to say about how this action will be felt among local politicians.
By
Washington Post editors
| August 3, 2010; 5:06 PM ET
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