“We have a lender and landlords that we haven’t been paying rent to the last couple of months because of the shutdown,” Sellers said. All 16 locations owned by the company, including several out of state, were closed and employees were laid off. He said the closures led to a 100% drop in revenue for nearly three months. “Within a week, we realized we couldn’t make money or even break even doing that.” Sellers said. Shut down since March 16, Barfly tried to rely on curbside service to keep the doors opened early on. “The COVID shutdown has been difficult for us, as it has been for the entire restaurant industry,” Barfly Ventures owner Mark Sellers told News 8. It is vowing to reopen its bars and restaurants. The move will allow the company to buy some time with creditors while it tries to recoup some of its losses. announced Wednesday it is filing for Chapter 11 bankruptcy protections. The owner of HopCat, Stella’s Lounge and Grand Rapids Brewing Co. The latest to take action to mitigate months of lost revenue is Barfly Ventures. (WOOD) - The financial fallout from the closures meant to slow the spread of COVID-19 continues to impact businesses.
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