I always hate reporting stories like these…details from 10News:
EL CAJON, Calif. - A beer business is struggling through bankruptcy despite receiving $600,000 from the state and city of El Cajon to open its doors.
The El Cajon Brewing Company was provided with the funding so it could open in October 2012, but now there is a chance it could soon go out of business.
Kendrick said the owner has to pay back most of the $600,000. He told 10News the city will not lose money because the loan is secured by the equipment inside. He said it's worth more than the debt.
"The city could repossess the equipment and sell it on the open market or the city could lease it to the new vendor," said Kendrick.
The owner of the El Cajon Brewing Company told 10News they have 10 beers on tap and business is going well. Now, they're waiting to hear what the courts will decide.
.
0 comments (click to read or post):
Post a Comment
Please leave a comment...I do moderate each comment so it may not appear immediately...and please be nice! You can also comment using Disqus (below) or even comment directly on Facebook (bottom).