Mar 31 2009
Guilty Until Proven Innocent: The Dark Side of Small Business Part 2
Continued………
Now keep in mind that we didn’t have the money to purchase this second location so we looked for a partner to buy into the corporation. The deal was that this partner would run Corleones and we would run Nicky D’s.
We had someone in mind that had already operated a restaurant in Mount Dora, but it went out of business because a family member had stolen all the money from one of the owners. Sorry, I can’t list his name, I still kind of like him.
And so we wrote up the contracts and Faith Alexandru took on her role as one of the owners of Corleones in Mount Dora. The deal was that Faith would put up the money to buy Corleones upfront, and later on she would add her percentage into a bank account to buy into Nicky D’s. Faith agreed to take on the note from Corleones which was held by the previous owner who shall not be named.
To sum up what happened after this would just take 100 pages to explain so I’ll give you the short version. She was incompetent, she stole money, she had no culinary skills whatsoever, she ran away all the employees with her negative and uneducated attitude, she nailed the doors shut of Corleones, left the food to rot, including a food order from Bari Foods that I got stuck paying for, and lets not forget the hundreds of maggots that were feeding and breeding all over the food cases and cutting boards.
Really hilarious right? It was even funnier when she sued us for the money she put into the business after I had asked for her resignation and fired her. Did I mention she won by default considering we were never served the correct documentation for a court appearance? Gotta love the Lake County Court System.
We continued our business at Nicky D’s not knowing of the repercussions of the lawsuit with Faith. We knew that things were getting worse when business started to falter because of the state of our economy. Umatilla, Fl was a small town and when the most of the local business’s started having financial issues, so did our restaurant. We figured the restaurant would have to be closed eventually, but we still operated with the intent of turning it around. Kelly and I were not in the habit of giving up to easily so we proceeded to take out a loan on our credit card sales to make sure we had some breathing room.
Our last hurrah before the business hit the fan was The Taste of Mount Dora where we cleaned up in the category of side dishes and appetizers.
We came to work the following week and ran the restaurant as usual. It wasn’t until Friday or Saturday that we realized that our bank accounts had been debited for over $74,000. A garnishment had taken place and every outstanding check I had at the time bounced even though I had over $11,000 deposited into the account to cover payroll, Cheney brothers, the landlord, and the holder of the note.
That was it. We locked the doors, told the employees that were there at the time, took our personals and left for good. It was a messy way to leave things and I never meant to leave….To be Continued on Wednesday

















