The court-appointed receiver in a complex series of lawsuits over Ashes Cigar Club has shut down the Red Bank restaurant and nightclub and has no plans to reopen it, he tells redbankgreen.
It could take months to find a buyer, says attorney Bunce Atkinson, who stubbed out the last hope of rekindling the business on July 7, when he directed that it be closed for good. Information about the reasons for the shutdown were unavailable until this morning.
Meanwhile, two groups of investors who claim to have had stakes in the bar’s liquor license have been squeezed out, and the state is looking to impose fines over identities having been hidden from regulators, Atkinson says.
“There’s going to have to be a fine paid” to the state Alcoholic Beverage Control agency, he says. “It’ll come out of the sale of the assets.” The former owners won’t see another dime from their investment, he says.