Fat Cats Cafe files for bankruptcy

May 2, 2013

fatcatsPort San Luis restaurant Fat Cats Café has filed for Chapter 11 bankruptcy, but will remain open. [Tribune]

The popular restaurant has less than $50,000 in assets and at least $300,000 in liabilities to its top 20 creditors, according to court papers filed April 26 by Fat Cats Café Inc. President Carl Barbettini.

Chapter 11 bankruptcy allows a company time to reorganize and create a plan to pay its creditors.

Fat Cats’ top creditors include the Internal Revenue Service, the State of California Board of Equalization, which collects sales tax, Producers Dairy and Kaney Foods.

Kaney Foods closed last month after filing for Chapter 7 bankruptcy.

In 2010, Fat Cats opened a second location on the corner of Santa Rosa and Higuera streets in downtown San Luis Obispo, but that restaurant has since closed.

Fat Cats is scheduled to begin its Chapter 11 hearings on June 19 in the Santa Barbara Federal Bankruptcy Court.

 


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14 Comments

  1. Skipper says:

    Best restaurant in town if you ask me. I’ve been eating there since the ’80s. Carl will figure it out but the second location killed him. Carl, add another dollar to the burgers! The bay window view is the best in the county!

    (4) 4 Total Votes - 4 up - 0 down
  2. Jorge Estrada says:

    I would miss Fat Cats, they have been a great place to eat within paradise. My best to Carl.

    (5) 5 Total Votes - 5 up - 0 down
  3. DemandTransparency says:

    mkaney – you forget to mention it will be (because it already is) genetically modified corn in that food.

    (-3) 7 Total Votes - 2 up - 5 down
    • mkaney says:

      Good point. I guess I figured that went without saying. It’s the same reason I don’t care about labeling food with GMOs. If the label doesn’t boast that it doesn’t contain any GMOs, I figure it’s a safe bet that it does.

      (5) 5 Total Votes - 5 up - 0 down
      • south says:

        And of course all U.S. and S.A. wheat is GMO and has been since the 60s.

        (3) 3 Total Votes - 3 up - 0 down
        • kettle says:

          ” all U.S. and S.A. wheat is GMO and has been since the 60s”

          No. The work on transgenic wheat began in the 1980’s

          Wheat has been cross bred for a very very long time.

          But don’t let facts get in the way, after all what could possibly go wrong.

          (1) 3 Total Votes - 2 up - 1 down
    • r0y says:

      Corn has been modified for hundreds of years. Corn cannot survive w/o man, it’s been so modified over the centuries. “GMO” is a very loose term, where many people try to make it sound big and scary like some chemical going into it (a la Monsanto and their destruction of soy, etc).

      Sure, there are some nasty mods out there, but generalizing that “GMO = bad” is stupid and very short-sighted. Biologists/Botonists/etc have been modifying the genetics of plants for as long as they’ve been around.

      (2) 2 Total Votes - 2 up - 0 down
  4. r0y says:

    This is too bad. I remember heading out there at odd hours because it was 24-hours. I asked how they can do that, way out in the “boonies” of Avila, and they said it was the people working at Diablo/PG&E that mainly kept them in business.

    So I have to wonder, what’s happened with that? I knew they dropped the 24-hour thing a while ago, and even tried a spot in the downtown SLO cursed spot (one of many, actually).

    I wish them the best, maybe I’ll take the family out there and give them some business.

    (10) 10 Total Votes - 10 up - 0 down
    • sloslo says:

      Ah,I miss the days when Fat Cats was 24 hours! Back then you could rent a hot tub at Sycamore mineral springs 24 hours a day too. After a long night out, you could go soak in the hot tub for an hour and then grab a bite at Fat Cats. The kids these days don’t know what they are missing!

      (0) 0 Total Votes - 0 up - 0 down
  5. mkaney says:

    Before you know it, we’re all going to be stuck eating Big Macs, Chipotle burritos, and pizza from Domino’s. Fine dining will be limited to the Olive Garden. They will all be stocked by Sysco or U.S. Foods. Then they will be free to start substituting some kind of corn product in place of the actual food, and we won’t have any choice in the matter.

    They will all be subsidized by the tax money taken from everyone else, under threat of violence. The dominoes are beginning to fall. Welcome to America

    (5) 15 Total Votes - 10 up - 5 down
    • coltrane says:

      LOL. When did the Olive Garden become fine dining?

      (8) 8 Total Votes - 8 up - 0 down
      • OnTheOtherHand says:

        I think the comment was made with a bit of sarcasm.

        (3) 3 Total Votes - 3 up - 0 down
      • mkaney says:

        That”s just the future I’m predicting. The sad fact is most of America considers free breadsticks and salad to be the definition of “fine dining.” lol

        (1) 1 Total Votes - 1 up - 0 down
        • r0y says:

          Well, if it means eating at a table (with a non-fixed-to-the-ground chair), that can be fine dining for many.

          (0) 0 Total Votes - 0 up - 0 down

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