Locally based FB&F Entertainment LLC, the operator of Jillian’s restaurant and entertainment venue in downtown Indianapolis, is reorganizing under the protection of Chapter 11 bankruptcy.
In its April 12 filing, the locally based company lists no assets and liabilities of nearly $2.2 million.
The local Jillian's opened in 1999 and was part of a rush of restaurants that arrived downtown following the opening of Circle Centre. The multi-story venue features a restaurant and sports bar on the ground floor and a pool hall, arcade and bowling alley on the upper floors.
Its largest secured debt is a $1.4 million loan from the Schaumburg, Ill., office of First Colorado National Bank. Unsecured claims include $331,262—the value of its lease at 141 S. Meridian St.
Jillian’s lease is listed with SMC Retail LLC, which is registered in state corporation filings to Todd Maurer. Maurer co-owns Halakar Real Estate and is the son of Michael S. Maurer, who co-owns IBJ Media.
The business is operated by Craig Kastle and David Wallace, and is separate from 11 other Jillian’s restaurants operated by Greg Stevens in Louisville. The three have at least 25 years of experience in the food and beverage industry, according to the FB&F website.
The restaurant chain first encountered financial troubles in 2004, when the former Jillian’s Entertainment Holdings Inc., also in Louisville, filed for Chapter 11 bankruptcy.
Dallas-based Dave & Buster’s Inc. bought the nine largest units of Jillian’s for $27.5 million. Separately, Gemini Investors III, a Boston investment company, agreed to pay $10.9 million for 19 other Jillian’s, leaving what was then a 35-unit chain with seven remaining locations up for grabs.