The Homestead Restaurant filed for Chapter 7 Bankruptcy
The Homestead Restaurant LLC, the Jacksonville Beach restaurant that closed last year after six months in business, filed a petition for a Chapter 7 liquidation in U.S. Bankruptcy Court.
The restaurant, which revived a historic local institution, opened in April and closed in October. No reason for the closing was given in the petition filed Jan. 9 in U.S. Bankruptcy Court for the Middle District of Florida in Jacksonville.
The petition said Homestead took in $909,526 in gross revenue but did not say how much money it lost.
The restaurant listed $956,715 in liabilities and $91,117 in assets in the petition.
The largest debt is $440,000 for “loans from owners for buildout and equipment” made by Halgard and Pamela Batoon.
Halgard Batoon is listed as the sole owner of the business.
The original Homestead operated from 1947 to 2010 in a log cabin-style building at 1712 Beach Blvd. That building is now the home of restaurant TacoLu.
Bo Johns, a former Homestead chef, decided to revive the restaurant at a new location at 1253 Penman Road. Johns was listed as a co-owner in news reports when the restaurant opened last year.
The Chapter 7 case was filed by attorney Bradley Markey of Thames Markey & Heekin, PA.