Seems like a foolish bank that would loan him money
When KK gets the documents, we'll know a little bit better what he had as collateral and why they'd do it. Like I said, it sounds newsworthy that Kite's in Aggieville (great burgers) could be foreclosed on, but I doubt that's the goal of the bank or where they envision getting paid from.
Word in the industry is that he somehow was able to use one location as collateral for all these loans...do not know specifics as to which building was used as collateral, but the industry (food & beverage) doesn't think he can survive this without taking on a money guy...looks like Johnny Kaws Raves will rule Aggieville
As a side note, just about anytime you see a independent chain of restaurants open several locations that aren't franchises in a short period of time, they are mumped or doing something illegal. There is a big one in the KC area that I've got my eyes on because they are doing this now...
