CSNbbs

Toby Keith's sued for back rent


A close-up of the guitar shaped bar at Toby Keith's I Love This Bar and Grill at The Banks.

Written by
Lisa Bernard-Kuhn

DOWNTOWN — Toby Keith’s I Love This Bar and Grill, the first restaurant named to The Banks riverfront development, is being sued for not paying rent.

Toby Keith’s owners owe more than $121,000 in past-due rent and other fees for its 77,000-square-foot restaurant and bar located along Second Street, according to the lawsuit filed in Hamilton County Common Pleas Court.

The venue was the first retailer/restaurant to sign a lease in 2010 at The Banks with Atlanta-based developers Carter and The Dawson Co.

At the time, the developers landed a $5.5 million loan from the City of Cincinnati and Hamilton County (split 50-50) to help cover the cost of building out tenant spaces, something Carter said would help lure tenants including Toby Keith. The loan, with a 4 percent interest rate, is to be paid back over five years.

This story will be updated.

http://news.cincinnati.com/article/20130...-back-rent

SUIT: I Love This Bar hasn't paid rent since November
Posted: Feb 12, 2013 1:12 PM EST
Posted by FOX19 Digital Media Staff - email


CINCINNATI, OH (FOX19) -

The owner of The Banks in Downtown Cincinnati is suing the owner of one of its restaurants.

According to a 250 page lawsuit filled in Hamilton County, the owner of Toby Keith's I Love This Bar and Grill is $231,980 behind on their rent, taxes and utilities.

I Love This Bar and Grill is owned and operated by Capri Concepts, LLC out of Scottsdale, Arizona.

The owners of the Banks alleged that Capri Concepts hasn't paid any of their $41,066 a month rent since November 2012.

The suit also alleges that Capri owes a host of late fees, back taxes and utilities.

FOX19 is following the money and we will bring you a full report tonight on our news at 6:30.

http://www.fox19.com/story/21136797/the-...i-concepts

Maybe they should sell all of their glassware and serve drinks in red Solo cups?

I wonder if business is bad? I know Friday and Saturday night they are busy but outside of that everytime I have been in there they are dead. Their food and drink prices are really high.

yeah , that $9 mason jar full of Bud is a bit much.

Better beer/prices/atmosphere at Moerlein House and Holy Grail.

Me and my friend were literally the only ones there last time. It was Friday afternoon at 2pm.... but still . :drinky2:. Hey I had the day off.

This is what you get when the "guvmint" chooses winners and losers instead of the free market determining same.

Good luck getting that loan back Cincinnati

(02-12-2013 04:48 PM)SuperFlyBCat Wrote: [ -> ]Good luck getting that loan back Cincinnati

Quote:At the time, the developers landed a $5.5 million loan from the City of Cincinnati and Hamilton County (split 50-50) to help cover the cost of building out tenant spaces, something Carter said would help lure tenants including Toby Keith. The loan, with a 4 percent interest rate, is to be paid back over five years.

The loan was not to the Toby Keith group. It was to the developers. It is still in good shape.

(02-12-2013 04:54 PM)ctipton Wrote: [ -> ]

(02-12-2013 04:48 PM)SuperFlyBCat Wrote: [ -> ]Good luck getting that loan back Cincinnati

Quote:At the time, the developers landed a $5.5 million loan from the City of Cincinnati and Hamilton County (split 50-50) to help cover the cost of building out tenant spaces, something Carter said would help lure tenants including Toby Keith. The loan, with a 4 percent interest rate, is to be paid back over five years.

The loan was not to the Toby Keith group. It was to the developers. It is still in good shape.

Only problem is that the developer is going to have to eat the cost of a new build out if they evict this tenant.

>>>In our commitment to balanced news, FOX19 wanted to get the other side of the suit so we called Capri Concepts.

Their lawyer claims that they signed an exclusivity agreement with the Banks that promised no other bar or restaurant would have a similar concept.

The lawyer says his client feels that some of the tenants at the Banks have similar offerings and that violates their arrangement.

According to the lawyer, Capri Concepts has the rent money in an escrow account but they are refusing to pay because they feel the Banks has violated their agreement.<<<


sounds like a crock of **** . what? they are peeved there are other bars around?

What other bars in the area have the same concept? Moerlein definitely isn't the same. Holy Grail is more of a sports bar. I guess they could say Tin Roof since they have live music, but they are still worlds apart.

(02-12-2013 05:45 PM)subflea Wrote: [ -> ]What other bars in the area have the same concept? Moerlein definitely isn't the same. Holy Grail is more of a sports bar. I guess they could say Tin Roof since they have live music, but they are still worlds apart.

Agreed. Unless they are referring to Mahoganys

Tin Roof is far less expensive at least beer wise. While Tin Roof's concept was supposed to be like Nashville it has not really seemed country like TK's is, but I can see why they have a beef with it.

I will say the staff at TK's is very easy on the eyes though.

Hmmm...I think I called this one on this very forum when it was announced TK's was arriving.

Hate to see a failing business, but you know rents are expensive down there and foot traffic is non existent on non-game days. Rent at $41,000 a month, that's a lot of food and alcohol to sell.

Thank God for the Gateway Quarter. Long live OTR.

(02-13-2013 11:41 AM)BearcatsUC Wrote: [ -> ]Hmmm...I think I called this one on this very forum when it was announced TK's was arriving.

Hate to see a failing business, but you know rents are expensive down there and foot traffic is non existent on non-game days. Rent at $41,000 a month, that's a lot of food and alcohol to sell.

Thank God for the Gateway Quarter. Long live OTR.

I never thought I would live long enough to see that in a non-sarcastic thread.

(02-13-2013 11:41 AM)BearcatsUC Wrote: [ -> ]Hmmm...I think I called this one on this very forum when it was announced TK's was arriving.

Hate to see a failing business, but you know rents are expensive down there and foot traffic is non existent on non-game days. Rent at $41,000 a month, that's a lot of food and alcohol to sell.

Thank God for the Gateway Quarter. Long live OTR.

I don't know, places like the Holy Grail and Moerlein seem to do good business even during the week. And the weekends are jamming down there. The built in customer base at the Current helps. But Toby Keith's is massive and at $41k per month that's a lot of rent to cover. The food isn't particularly great at Toby Keith's so much of the downtown lunch crowd goes other places. If it goes under I'm sure something else will fill its spot (or at least part of it).

Their lawyer claims that they signed an exclusivity agreement with the Banks that promised no other bar or restaurant would have a similar concept.

On the 5th page of the lease agreement between The Banks and Capri Concepts, both parties agreed that I Love This Bar & Grill would be the only, "first class county music themed restaurant and lounge offering live music and serving a variety of food and beverages."

The lawyer says his client feels that some of the tenants at the Banks have similar offerings and that violates their arrangement.

According to the lawyer, Capri Concepts has the rent money in an escrow account but they are refusing to pay because they feel the Banks has violated their agreement.

The lawyer stated that his clients may countersue.

In a statement, The Banks assured that their loans from the city were in good standing.

http://www.fox19.com/story/21136797/the-...i-concepts

Companies like Panera, etc. put similar provisiones in their leases. Not uncommon.

If it was overlooked, Banks is in a pickle.

A friend of mine plays guitar in a southern rock (more like Skynrd, Molly Hatchet than "country") band that plays there occasionally. I went to see them play one night at TK's

Nothing wrong with the place, but I have no reason or desire to go back unless his band is doing another show there.

I feel like I can and will hang pretty much anywhere but I won't stick around long if your only beer option is $9 budweiser.

Apparently just about every Toby Keith's around the country is involved in litigation. Many of them are also for not paying rent.