Zionsville’s Villagio Ristorante and Bar, 40 S. Main St., once the home of the famous Adam’s Rib restaurant, has filed for a liquidation bankruptcy.
The Italian restaurant, managed under ERJ LLC, filed for Chapter 7 bankruptcy on May 3.
“The original petition for a Chapter 11 that was filed in July of 2012 was dismissed a month ago. My client has recently filed for a Chapter 7,” Cohen said. “Total liabilities are listed on the schedule at $370,353.00 and $35.00 in total assets. The liquor license is included in the listed assets at an unknown value as it is subject to a statutory lien in favor of the Indiana Dept. of Revenue.”
The restaurant remains open and operating under a new name, Ciao. The property is owned by Halcyon Futures Group and the owners had just recently completed a major renovation to the building that the restaurant is housed in. The property owners were not available for comment at press time.