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A Report On The Street Downtown Of Edgewood Avenue And Avenue

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After Erosol opened in May 2014, the rugged, red-brick structure on the corner of Edgewood Avenue and Boulevard became a stomping ground for famous rappers and aspiring artists. Also known as “Department Store” because of its location in a 1900s variety store, the venue made its mark as one of Edgewood Avenue 's hottest nightlife spots, with lines out the door.

But those days might be over. On July 21, Erosol 's more than 20 employees were shocked to learn that the bar and venue had closed. The locks on the doors had been changed, a move that surprised staff, patrons, and apparently even the bar’s owner, Luis Carreras. Erosol LLC is now in bankruptcy court and a legal battle with its landlord. Its bank accounts and material assets have …show more content…

Gebhardt also said Erosol failed to provide court-requested financial records, “including tax returns, listings of disbursements, insurance information, a projected cash budget, and operating reports.” The IRS and the Georgia Department of Revenue, in the same motion, claim Erosol didn’t file required tax returns or make proper tax payments. Legal documents filed by one creditor say Erosol “failed to participate in the orderly process of reorganization.”

Carreras denies almost all of the claims against him and says the allegations of bankruptcy code violations are false. “The only records that were not provided were ones turned in late because I was in Cuba,” he told CL. As for a few no-shows to court summonses, Carreras said his attorney was stuck in traffic one of those times.

On June 23, according to documents, the court froze Erosol’s bank accounts. Swift Capital Corporation said it loaned $75,000 to Erosol in early April. James Hays, Swift’s lawyer, alleged Carreras’ company “has been operating its business on a cash basis without reporting proceeds from sales, without utilizing an appropriate debtor-in-possession account and without respect to [its] rights to cash

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