16 October 2007

Michael Vick’s Restaurant Will Soon Be No More

Well folks, the sky is truly falling on Michael Vick. He’s going to end up serving time, and if things keep going the way they are, he’s also going to end up penniless. Wachovia Bank is just the latest creditor to sue Vick for defaulting on a loan. This time it’s involving his famed restaurant. The bank is seeking $940,000 of the $1.3 million loaned to Vick in 2006.

In a federal lawsuit, the bank says Vick, partner Gerald Frank Jenkins and their Atlantic Wine & Package LLC have failed to make monthly payments of principal and interest, and that Vick's obligations "are impaired due to recent events involving Defendant Vick."
Think all the way back to March of this year. Vick had just opened up Atlantic Wine & Spirits and the hopes were high. In fact, the restaurant was seen as an effort to forge a better connection with the community after his incident with the Aquafina bottle.
Maybe this will offset some of that attention I've been getting, whether positive or negative. It's good for people to see that I'm giving back to the community, where people can see me trying to do something that's positive. There's a lot of people speculating about things I do that are not so positive."
Oh, what a difference a few months makes. This was in March. The next month, Vick forged a new, different kind of connection with the community, and an even better one with Federal authorities. Now, he’s overdrawn his restaurant account by over $34,000, and the creditors are knocking down the doors. Those were the days.

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