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Miami strip club files Chapter 11, has 'plenty of assets'

samsung1

Ohio

A new bankruptcy filing for Miami strip club Bare Necessities includes $477,197 in assets and debt of $499,068.
“There are plenty of assets and the bankruptcy was only filed to stop a tax deed sale scheduled tomorrow,” said Robert Meyer, attorney for the Bare Necessities Strip Club and Liquor Store.
Meyer said the company did not pay its taxes due to “oversight.”
The club, at 9100 S. Dixie Highway, is in the downtown Kendall area of Miami-Dade County. It advertises itself as a sports bar where patrons can watch a game and strippers at the same time. Its website boasts “totally nude dancers.”
The company also owns property in the Hialeah area, according to bankruptcy court documents. Its owner and manager is Roger Farrell of Miami.
The largest creditor is Plantation-based Equitable Mortgage and Investment, with mortgages on three properties totaling $150,000. Miami-Dade County's Building Department shows three claims totaling $50,000.

http://www.bizjournals.com/southflorida/…