Capitol Hill cocktail bar files for bankruptcy

Stanton & Greene, the Capitol Hill cocktail bar that replaced the Pour House in 2015, has filed for Chapter 7 bankruptcy liquidation. 

The filing, submitted by 319 Pennsylvania Ave. LLC, which does business as Stanton & Greene, lists $19,200 in assets and $1.5 million in liabilities, though it notes the value of the business’ assets are much higher if it could be sold intact as a going concern.

We’ve reached out to Stanton & Greene for more information on the filing and to find out if the bar will remain open or close. Chapter 7 bankruptcy often portends a closure and sale of any business assets, while Chapter 11 is more often used for businesses to reorganize and work on becoming profitable again. 

According to the bankruptcy filing, Stanton & Greene’s largest liabilities include: 

$191,046 to the D.C. Office of Tax and Revenue
$200,000 to the Internal Revenue Service
$214,000 to Columbia Bank
$150,000 to the bar’s landlord, Kodiak Properties
$261,036 to one of the restaurant’s…

Read the full story from the Washington Business Journal.