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I feel real head-achey, but just heard a rumor from a friend that about 40 minutes ago First Avenue, the local music venue of fame, closed its doors due to bankruptcy. Rumors have flown before so I'll post more as info becomes available. If true, this sucks on par with Rev 105 getting sold. Argh.
Here's an mp3 of their phone message with details: First Ave Answering Machine
Ok, according to the Strib, they filed Chapter 7, two days before they were to vacate the building! "A Chapter 7 bankruptcy is essentially a liquidation of a company's assets with the intention of ending the company, as opposed to a Chapter 11 filing, which is meant to keep businesses going."
"Fingerhut was evicted by First Avenue's landlords over unpaid real-estate taxes and rent. Two of those landlords are former managers Steve McClellan and Jack Meyer, who plan to start a new company to run the club... Fingerhut said he does not plan to give the liquor license necessary to operate the club... Fingerhut also does not want to hand over the name of the club, although the name is now part of the assets that are part of the bankruptcy trust." Man, how could they fight so much internally as to risk the life of such a musical institution?

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