GZ has served his timeout...lift the ban. Saw this across the street @ SB.
Forrester's on the River: Why it's damned stupid to open a restaurant there.
On 2016 Jan 22 Fri 10 am, the contents of "Forrester's on the River" restaurant will be auctioned off as a total liquidation to satisfy debt. The auctioneer Pamela Rose Auction Company has posted  that the sale will be "down to the walls"  but there might be contention about that, regarding installations like the wooden bars and ventilation system.
Disclaimer: I have no association whatsoever with the auctioneer, the landlord (Dashing Pacific), the bank involved (Genoa Bank), or the restaurant owners (John and Jonathan McQueary, whom I refer to as "McMorons" hereafter).
The reason why this liquidation is happening is that the Toledo area has too many morons who can't admit we are in the middle of a gigantic economic crash of generational scope. Toledo is in the middle of a Great Depression. In such a case, opening a restaurant like Forrester's was totally foolish. The McMorons must have mental issues. But they're not alone... why did Genoa Bank loan them about 200 thousand dollars for this foolishness? Who's the drooling idiot at the bank who approved that loan? I don't blame the landlord Dashing Pacific for signing a lease; after all, the property would have sat vacant otherwise. But the entire venture was just stupid. Imbecilic.
Dashing Pacific filed a court action against the McMorons in the Lucas County Court of Common Pleas, case number G-4801-CI-0201503037-000. Look it up yourself. In the documents attached to the docket for that case, you can find the 60+ page initial filing. That's how I found out the moron Genoa Bank loaned moron money to a couple of McMorons.
But I also found the Lease Ledger. And it sufficiently illuminated the issue for me. By any rational metric, the restaurant had failed by the THIRD month. The ledger clearly shows that the McMorons never fully satisfied their expenses after that point. A raft of natural gas and electric expenses had been paid by the landlord and were therefore charged to the McMorons. Is it normal for a landlord to pay your utility bills when you run a restaurant? Obviously the answer is "no". Obviously the court agrees, since this liquidation is being done to satisfy every dollar of the ledger's end balance.
By month 6, the ledger clearly shows that the McMorons started to have trouble submitting the entire monthly rent and CAM (common area maintenance) payments.
By month 12, the McMorons had bounced a check. After that, rent/CAM was paid only sporadically. Sure, some payments were significant, like a payment of $35000 made 3/04/2015, but by then the balance had swelled to over 156 thousand dollars. So the McMorons were doing the "Table 44"  thing... they were just running up a balance that they obviously were never going to make good on.
The ledger clearly indicates that each winter, the restaurant just didn't make good on rent/CAM payments, or utility payments. Either way, the winters at that restaurant were dismal. Why would anyone open a restaurant there? I mean, other than clinically defined mental retardation? And then why would a bank give hundreds of thousands of dollars to obvious imbeciles who propose such a thing?
I myself am going to the auction to do my part in making sure that that site is totally emptied of equipment so that another set of morons don't just move in and try to run a restaurant there. I'm bringing lots of money but I'm not going to bid that high. I deserve a break and with all the utilities and bank money, I suspect that somewhere along the way all of us are paying for the McMorons having their time drooling in microencephalic glee.
 The "Table 44" restaurant is running a huge balance on their property taxes. Why won't Lucas County force them to a tax sale? It looks like our government is more afraid of the restauranteurs than the reverse.