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The Continental filed for Chapter 11 bankruptcy last month, its second filing since 2009,
Crain's reports.
At issue, a jukebox-revenue dispute that "eventually snowballed into a lawsuit that went on for about seven years." The lawsuit ended in arbitration with $49,762.96 awarded to PLK Vending, according to
Crain's.
Owner Trigger Smith said that he will "do everything in [his] power to keep this bar going."
After 15 years as a live-music venue, the Continental at 25 Third Ave. near St. Mark's Place ditched the stage for a "classy dive bar" makeover in 2006. As
Crain's notes, the jukebox at the center of the legal dispute replaced the bands.
Flashback
to an article in
The Villager in February 2006 about the venue discontinuing live music.
“It’s sad that places like this are closing, but times are changing,” said Justin Weiner, a 24-year-old real estate financial analyst, who read a newspaper while he waited for his friend’s band, Against the Wall, to play. Now a lot of people hear new music on MySpace.com, not in clubs, he said.
H/T Eater