CBGB brand owner goes bankrupt

Although CBGB closed its doors in 2006 (seriously, where did the last four years go?), its name had lived on in t-shirts and memorabilia thanks to the company who bought the brand name in 2008.

However, it looks like this much shorter era of the legendary punk club is coming to an end as well. CBGB Holdings LLC filed for Chapter 11 bankruptcy protection on June 11th in Manhattan, reports Billboard. The company listed a massive debt between $1 million and $10 million but did not otherwise state why it was seeking bankruptcy protection.

Money problems were also behind the original closing of the East Village club, which lost a long legal battle with its landlord over skyrocketing rent.

So grab memorabilia while you can, ’cause new shipments may be scarce in the near future.


Follow Consequence