The retail and restaurant industry has suffered tremendously in the recession. After many companies have been forced to trim their employees and inflate prices for customers, many others have had to close their doors for good. Just one year after it opened, The Viking Culinary Center in Lakewood Ranch, has filed a petition in Florida bankruptcy court.
Many people in today’s tight consumer spending market have avoided luxury events and entertainment options like those offered by The Viking Culinary Center. Once home to a posh center offering cooking courses and training, the center was designed to also host a range of events from private experiences to catering large parties. The center boasted some of the top-of-the-line Viking appliances for use in their culinary courses, as well as sold them in a gourmet retail area.
Unfortunately, all that luxury couldn’t compete with the lack of consumer spending and tough economic times. The 4,500 square-foot facility has closed its doors as its founder, James Butler, filed for Chapter 7 late last week. The filing comes in hopes of resolving some of the near $10 million in debt obligations to a list of over 200 creditors.