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McMichael Files Bankruptcy


The owner of the Blacksmith Restaurant in Bend is filing for bankruptcy. Gavin McMichael says during the recent recession, they saw sales drop in half and their loan amounts triple. He explains why he filed for bankruptcy: “I file for individual bankruptcy. So if they're wondering what happens to the Blacksmith and Gatsby, nothing. In fact, the reason for me to file is to protect those two entities.”  McMichael filed for Chapter 7 which will liquidate his assets. He owes $2.4 million mostly in business debt. He saw customers will not notice any difference when eating at his restaurants. McMichael plans to continue as General Manager of the Blacksmith.

 

 

 
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