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Are the days of Blue Martini’s location at the Galleria Mall in Fort Lauderdale, winner of Best Place to Meet a Cougar 2013 by the Broward-Palm Beach New Times, numbered? Maybe.
According to a report by the South Florida Business Journal, Blue Galleria LLC, the operator of the location at 2432 E. Sunrise Blvd., filed for Chapter 11 reorganization on Monday, November 10 in U.S. Bankruptcy Court for the Southern District of Florida.
The venue remains open while the case is ongoing. Despite its association with bankruptcy, filing for Chapter 11 does not necessarily mean a business will shut down. Instead, the goal is to ultimately reorganize the finances before it gets to that point.
Blue Martini photo
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A Rent Dispute Trigger
Fort Lauderdale attorney Michael D. Seese, who submitted the filing, told reporter Cortney Danielle Moore of the Business Journal that a rent dispute with the landlord triggered the bankruptcy. “Blue Galleria had accrued rent, including charges disputed by the company, resulting in the landlord commencing litigation,” he shared with the publication. “The litigation, as well as decreased foot traffic at the mall and higher insurance premiums initially charged to the company, precipitated the Chapter 11 filing.” Seese added that, because Blue Martini has a “small amount of debt,” it expects to emerge from the reorganization successful, as South Florida is about to enter the tourist high season.
According to the Business Journal, the petition lists the venue’s current pressing debt at $26,754, with its assets estimated to be between $500,001 and $1 million. Last year, Blue Martini at the Galleria generated over $3 million in revenue and reported a profit of $76,846.
The venue’s struggle is hardly unique. Rising rents and insurance premiums have been squeezing South Florida businesses. The hospitality industry has certainly borne the brunt of it, thanks to consumers reducing their spending due to the economy and the fickle nature of South Florida tourism, where profits from the high season need to carry a business through the low summer and fall months when hurricane season is at its peak.
Blue Martini photo
A Staple at the Galleria Mall
For over a decade, locals have loved Blue Martini in Fort Lauderdale for its upscale yet energetic atmosphere, which combines a trendy lounge (mood lighting galore) with live entertainment. Its popularity stems from the combination of a renowned happy hour with discounts, diverse experiences across its three bar areas (patio, stage, and VIP lounge), a menu featuring tapas and cocktails, and a reputation for excellent service.
The nightlife spot is also popular for its live music, lively patio, and ability to host private events, making it a versatile spot for professionals, tourists, and locals alike. For now, the legend of Blue Martini at the Galleria Mall lives on.
Blue Martini Fort Lauderdale. 2432 E. Sunrise Blvd., Fort Lauderdale, at Galleria Mall; 954-653-2583; fortlauderdale.bluemartini.com.
