Bob Sambol owner of Bob’s Steak & Chop House on Lemmon Avenue has filed for Chapter 11 bankruptcy. “I’m filing for Chapter 11 with Bob’s,” said Sambol. “I’ve never recovered from my almost $2 million dollar loss in Denver and coupled with the downturn in the economy, it is what it is. It is the best thing for the restaurant.”
In November 2005, Sambol and former partner Bill Lennox opened a Bob’s Steak & Chop House at Cherry Creek North in Denver. It closed in 2007.
What does this mean? “The restaurant stays open, the employees and taxes get paid, but past bills are lumped together and renegotiated,” said Sambol. Bill Lennox, Sambol’s former partner and current owner of the Bob’s brand is on board with the move.
The filing for bankruptcy is not related to Sambol’s legal hassle with a former customer, Lee Thompson, Jr. “There’s no word on that,” said Sambol. “Nothing is going to be settled for 7 to 9 months.”