Give these gals some credit (sorry) for speaking up when they’re down on their luck. Kathy Jack and Susie Buck of Jack’s Backyard closed their popular indoor/outdoor venue on June 26. There has been some talk going around about why they closed and even though they’ve released the statement below, I’m still a little unclear on their message. Owner Kathy Jack writes “I developed a plan with the head of the creditors’ committee to repay our back debts and start repaying investors but ultimately, we were not given that opportunity.” By the landlord? By the bank? Whatever, I admire her courage and commitment to make things right. I’ve asked for more details. Below is the statement she released late last night.
Statement from Kathy Jack, Owner of Jack’s Backyard
With four days’ notice from the property owner, Jack’s Backyard closed for business on Sunday, June 26. I want to tell my friends, family, Jack’s customers and investors that I am truly sorry that this has happened. My partner, Susie Buck, and I worked along with our staff to make this business work.
There is so much misinformation and so many rumors. Jack’s opened on Oct. 31, 2008. I never paid myself a salary during the two and a half year run. We simply cut back and lived on what my partner earned at her other job. Jack’s was a BIG place and we opened in a tough economy. Jack’s Backyard earned only enough money to keep the doors open. All along there was a 10-year plan to repay the Jack’s investors and I truly believed that was possible.
We reorganized in December 2010 with the help of a creditors’ committee. We implemented new daily operating office procedures, a new accounting system, a new daily transaction system, developed a new filing system and cut expenses. At the time of closure we were current on all employee, liquor, and sales taxes. In addition, we were current on all bills, including rent post-reorganization.
I developed a plan with the head of the creditors’ committee to repay our back debts and start repaying investors but ultimately, we were not given that opportunity.
I have spent 34 years in the service industry and I have been raised in this community. It means a lot to me that people believe in and trust me. I am adamant about making things right. Jack’s was built to be a backyard big enough to hang out with all of your friends. That mission continues.
Thank you for your love and support.
Kathy Jack and Susie Buck