A well-known restaurant and bar in South Park is facing eviction following allegations that its manager along with a co-owner misused the establishment’s funds for personal use, as stated in a recently submitted legal complaint.
The ownership group behind Bar One Lounge and 800 Degrees Carolinas at Phillips Place, which consists of 800 Degrees Phillips Place LLC, has lodged a complaint with North Carolina Business Court against their manager, Steven Jensen. This lawsuit involves 16 members from the ownership group, including restaurateur Kyle O'Brien.
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The legal complaint asserts that Jensen has engaged in constructive fraud and violated his fiduciary responsibilities by diverting corporate money to enterprises under his control. In June, Jensen launched 800 Degrees Carolinas within The Alley at Latta Arcade. Additionally, he recently inaugurated Bar One downtown, located on the first level of The Stuward, which was previously called Packard Place.
The legal action alleges that Jensen utilized corporate money for his own use and accumulated significant debts on behalf of the eatery partnership.
The lawsuit states that the restaurant group owes "tens of thousands of dollars in back rent, entirely because of Jensen’s poor management and various misconduct." It also mentions that the landlord has notified O'Brien that the restaurant group faces eviction unless Jensen is removed from his position.
A representative from Phillips Place stated that the ownership refrains from commenting on tenant-related issues like this one.
Read more here .
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