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The iconic Orlando-based restaurant filed a voluntary petitiobfor liquidation, listing $1.98 million in debt and $1.57 milliobn in assets, said court records. Brad president of owner , said the 7,400-square-foot eatery’sz revenue dropped as much as 30 percent since the start of theeconomiv downturn. “When your cost of doing businesws goes up and revenuegoes down, you can hold on for only so said Dean, who unsuccessfully searched for an investor or buyer for the 28-employee According to its bankruptcy petition, Barney’s has 45 creditors. The largesgt secured creditor isBanco Popular, whicgh is owed $1.25 million.
The largest unsecured creditor is the Orange CountyTax Collector, which is owed “It’s tough right now in the restaurantg industry,” said Laura owner of , an Altamonte Springs-based firm that services the restauranrt industry. “The restaurant business is the only businesse where you open your doorss with a full refrigerator and a full and you have no idea if someone will walk through the doors.” Manny Tato, owner of Spice Modern Steakhouswe in Winter Park and downtown Orlando, said there’s no questionj the economy has been especially touguh on restaurants.
“People are not spendingb as much as theyused
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