The owners of Asian fusion restaurant Budatai, headed by renown Chef Roberto Treviño, have filed for Chapter 11 bankruptcy protection, citing more than $400,000 in debt, according to the documents on record at the U.S. Bankruptcy Court.
Restaurant owners Out of this World Inc. filed the voluntary petition, which was signed by company President, and Treviño’s business partner, Francisco de Juan, on Oct. 31. The company’s board of directors approved the move on Oct. 22, according to petition documents.
The 14-page filing lists the restaurant’s biggest creditors as the Municipality of San Juan ($128,852), Banco Popular de Puerto Rico ($100,000), and supplier Drouyn & Co ($47,546).
Budatai is located in the Condado sector of San Juan, facing the “Ventana al Mar,” which offers breathtaking views of the Atlantic. The restaurant opened in 2007 and is one of several eateries fronted by Treviño, along with Bar Gitano and El Barril.
Earlier this week, it was reported that another one of Treviño’s restaurants, La Pizza La Pasta, closed after just five months of operations. That eatery had replaced Casa Lola, a culinary concept that for nearly five years offered traditional Puerto Rican fare with a twist. Both were located within a lavish mansion facing the Condado Lagoon on Ashford Avenue.
As recently as August, Treviño confirmed the revamping of Budatai’s menu, with new options “more in tune with the economic times we’re facing,” he told a local newspaper.