Friday, May 04, 2012
Quincy Magoo's of Joplin files Chapter 11 bankruptcy
The petition, filed Thursday, indicates the city ordered the closure after Quincy Magoo's failed to renew its city license due to the restaurant/bar's failure to pay sales tax and withholding tax to the Missouri Department of Revenue.
Bankruptcy documents indicate Quincy Magoo's owes $45,000 to the state and $40,320 to the Internal Revenue Service, as well as $15,371 to Pro 100 Realty and $1,159 to Missouri American Water.
Co-manager Mike Denney indicated in the petition that he needed permission from the court to borrow $15,000 from investor Terry Ikerd, Kimberling City. from whom he has already borrowed $65,000, to be able to continue to operate the bar under the new name Bricktown Sliders.
He would use the money as follows:
-Initial Payroll Taxes $2,500
-Employee Uniforms $500
-Name Change Menus $1,000
Court documents included an order to Denney to provide information that was not included in his initial petition, including a financial statement and complete ownership information.