The Kamado Grille, a likely one-of-a-kind restaurant in North Raleigh, has filed for bankruptcy but hopes to reorganize and continue as a revamped concept with a new name, according to the company’s lawyer.
Reached Monday on the phone, New Bern lawyer Buzzy Stubbs said, “It’s a reorganization. They will change the name within 30 to 45 days.”
The bankruptcy filing will allow the owners to “clean up some of their financial issues” and reconfigure the restaurant as a “ramped up Kamado Grille concept,” Stubbs explained.
In the meantime, it’s business as usual. The restaurant is open for dinner every night of the week and for lunch on Saturdays and Sundays.
The restaurant opened in May 2015 in the former Lucky 32 restaurant location at 832 Springfield Commons Dr. off Spring Forest Road. The owners billed it as the only restaurant anywhere cooking all of its food on kamado grills, the expensive “egg-shaped, lump charcoal-burning grill whose design is rooted in 4,000-year-old Japanese tradition,” according to a review by the News & Observer’s longtime restaurant critic, Greg Cox.
Cox wrote that the restaurant was started by backyard-grillers-turned-business partners, Tom Allen and Joe Dunn, and gave their restaurant a three-star review.
According to the bankruptcy documents filed Dec. 12, the company is hoping to reorganize under Chapter 11; the company estimates its liabilities to be more than $500,000.
Court records indicate that the company estimates it owes more than $550,000 to Capital Bank and $102,000 to U.S. Foods, both secured creditors. The court filings also indicate that Kamado Grille owes about $160,000 to its largest unsecured creditors, including $76,781 to the N.C. Department of Revenue, $9,534 to Ward’s Fruit and Produce and $9,342 to the Wake County Department of Revenue.
A hearing is scheduled in the case on Jan. 5 at the federal bankruptcy court in Raleigh.