Fourth Street Live businesses face financial trouble - WDRB 41 Louisville News

Fourth Street Live businesses face financial trouble

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Several Fourth Street Live businesses could be forced to close their doors for failing to pay the rent.

According to a report, Red Star Tavern is being evicted, and will have to close by October 18th. If that happens, it will be the second tenant on Fourth Street Live to call it quits this month.

The person answering the phone at Red Star Tavern Thursday said that the restaurant's demise is not a done deal, but its general manager told Business First that Red Star will close its doors by October 18th.  He said that the restaurant's owner, Chicago-based Restaurants America, has not paid its rent since July of last year.  Red Star has been part of Fourth Street Live since 2004, and is the latest business there to suffer financial problems.     

Sitting right above the restaurant is Saddle Ridge, which has shut down. Its doors are already locked and closed after it allegedly failed to pay more than $100,000 in backed rent.

According to a lawsuit filed last week by the bar's owner, Louisville Galleria LLC, Saddle Ridge wasn't living up to the terms of its lease. The bar, which also opened in 2004, was supposed to pay more than $20,000 dollars a month in rent, but Louisville Galleria claims it's owed more than $133,000.            

The chairs are already sitting empty inside Saddle Ridge, and if the same things happens to Red Star Tavern, Fourth Street Live will have to replace two of its oldest tenants.

Calls to Restaurants America, which owns the Red Star Tavern, were not returned this afternoon.  

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