pow

thinking about buying a bar with steen and bithiah. we put in a bid on this place pow on mission and sixth today.
apparently the bar business has inherent risks: (there’s a big no shit).

FIDELITY NATIONAL
TITLE COMPANY
ESCROW DIVISION
NOTICE OF BULK SALE

Escrow No. 125593-EAM

TO WHOM IT MAY CONCERN:

Notice is hereby given to the Creditors of MEZILLO INCORPORATED , a California corporation, Seller(s), whose business address(es) is 101 Sixth Street, city of San Francisco, County of San Francisco, State of California 94103, that a Bulk Transfer is about to be made to JOHN G. KOVACS, Buyer(s), whose business(es) address is 101 Sixth Street, city of San Francisco, County of San Francisco, State of California 94103.

The property to be transferred is located at 101 Sixth Street, city of San Francisco, County of San Francisco, State of California 94103.

Said property is described in general as:

All stock in trade, fixtures, equipment, good will and other property of that COCKTAIL LOUNGE business known as POW! A Cocktail Lounge and located at 101 Sixth Street, city of San Francisco, County of San Francisco, State of California 94103.

The bulk transfer will be consummated on or after the 11th day of March, 2003. This bulk transfer is subject to Section 6106.2 of the California Commercial Code. If Section 6106.2 applies, claims may be filed at FIDELITY NATIONAL TITLE INSURANCE COMPANY, Escrow Division Re: Escrow No. 125593-EAM, 814 Mission Street, Suite 550, San Francisco, County of San Francisco, State of California 94103.

This bulk transfer includes a liquor license transfer. All claims must be received prior to the date on which the notice of transfer of the liquor license is received by Escrow Agent from the Department of Alcoholic Beverage Control.

So far as known to the Buyer(s), all business names and addresses used by Seller(s) for the three years last past, if different from the above: N/A

Dated: January 28, 2003
John G. Kovacs, Buyer/Transferee
No. 86555       Feb 20 1t-R

somehow the figures that were quoted to steen as being the monthly average gross revenue and this notice of bankruptcy dont seem entirely consistent with each other. unless the 2 partners in the business were spending more than they were earning……in any case, it looks like this guy kovacs, who was lined up to buy the place dropped out for some reason. they had gone through the process of securing the temporary operating license though, and applying for the place of entertainment licensebefore he did drop out. so im wondering what caused him to get cold feet. (that last link is cool though, because you can look at the previous ownership of the license and the problems they have had there). the good news is that they issued the temp. so the thing fell out of escrow in february. wonder if mr. kovacs couldn’t come up with the dough, or decided that it wasn’t a good deal. i just emailed what i believe to be kovacs’ telephone # and address to steen and bithiah, mebbe suave kiwi can find out what the deal was.

here’s
an example of one possible problem. you can catch up on the sensationalistic view of the problem here. the area sucks shit, but the city is attempting to revitalize the area. in pursuit of this goal, the city has been slowly acquiring buildings and hotels.
this is the city’s deal.

hmmmm. ive been there a number of times, and its a cool bar. it has the potential to be a great bar. the rent is tasty. there are a few drawbacks however, and before i go to contemplate the whole picture, i would feel remiss if i didnt mention that its kinda like having a bar in the middle of the city’s rehab district. wait, not kinda. it is like that. ok im gonna do some gaming.