Eva Longoria is having a rough time of it lately. First the divorce and now some bad financial news. Her Las Vegas restaurant Beso is bankrupt. The restaurant has $5.7 million in debt that it will try to restructure in Chapter 11 bankruptcy proceedings. Revenues are good, but the company has been operating at a loss. Las Vegas has been hit hard by the recession.
The Desperate Housewives star launched the Sin City branch of Beso with business partner Todd English in December 2009 — a year after opening her flagship Hollywood restaurant with the same name. The lawyers for Beso LLC filed legal papers in a Vegas court Thursday.
Despite grossing $14.6 million over the past year, court records show Beso racked up some $76,000 a month in losses and owes $1.8 million to landlords Crystals. Not to mention that Longoria’s company owes a bunch of contractors for construction work and some former partners who helped finance the building. A number of those investors have subsequently sued Beso LLC to get their money back.
Longoria, who owns a third of Beso, had poured her own cash into the firm and recently boosted the business with a $1 million loan and covered $375,000 in legal fees.