A longtime Texas restaurant operator with prominent ties to Houston and the Dallas-Fort Worth area is poised to enter a new chapter, thanks to a federal judge and a multimillion-dollar bankruptcy case.
Chief U.S. Bankruptcy Judge Brenda T. Rhoades confirmed Aug. 6 a reorganization plan for KBI 2015 TX LP, a company managed by restaurateur Kim Forsythe with multiple food-and-entertainment-focused businesses in Texas When the reorganization plan goes through, an unaffiliated investor would contribute at least $250,000 for 100 percent of the company’s equity.
The decision marks another major shrinking of Forsythe’s once sprawling restaurant empire, which includes the Sambuca chain of steak, seafood and dancing concepts. The news also coincides with the abrupt closure of Forsythe’s other company, 909 Events, Inc., formerly known as Sambuca Catering, Inc., according to public records. 909 was the operator of the Crystal Ballroom at the Rice, a wedding venue inside the Rice Hotel. Chron multimedia reporter Macy Meinhardt reported earlier this week that the company had informed customers its lease had been terminated and that it would be seeking bankruptcy protection, leaving their scheduled deposits and wedding dates up in the air…