Buyer of CBGB Rock Club Brand Files for Bankruptcy
NEW YORK - OCTOBER 15: General view of the extiorior of CBGB's during it's final farewell show with Patti Smith on October 15, 2006 in New York City. (Photo by Bryan Bedder/Getty Images)
Updated at 12:30 PM EDT on Saturday, Jun 12, 2010
The company that bought the right to market the name of the legendary New York City rock club CBGB has filed for bankruptcy.
In its punk heyday, CBGB hosted acts such as the Ramones, the Talking Heads, Patti Smith and Blondie.
The venue closed in 2006, but investors bought its name and intellectual property rights in 2008, hoping to revive the brand by selling T-shirts and other memorabilia.
CBGB Holdings LLC filed for Chapter 11 bankruptcy protection Friday in Manhattan.
The company has listed debts of $1 million to $10 million in its court filing. The petition does not say why the company was seeking bankruptcy protection.
An attorney for CBGB Holdings did not immediately return a call seeking comment.
Published at 12:23 PM EDT on Jun 12, 2010
Copyright Associated Press / NBC New York