Matt Morgan’s Bar and Restaurant, located in the former Bosacki’s Boat House location, has been closed.
Creditors for the financially distressed business changed the locks on the building’s doors over the weekend putting the operation out of business – at least temporarily.
A note on the door Monday said, “Closed, reopening soon” and also listed the cell phone number for Harlan Accola, who along with his wife, Brenda, own Northwoods Equity Investments of Marshfield.
Matt Cullen Sr. and his wife, Kathleen Paris, had purchased the facility from Northwoods Equity Investments of Marshfield on a land contract after the equity company had purchased the former Bosacki’s building at a sheriff’s auction sale for about $700,000 in May 2010.
Before that, Northwoods Equity Investments had bought the Bosacki's North Inc. note from Saginaw, Mich.-based Citizens Bank in late 2008.
Harlan Accola said discussions are being held with some interested parties to put together some kind of arrangement for either Matt Morgan’s or some other similar business could reopen at the same location as soon as possible.
“We hope to make some kind of deal very soon,” Accola said.
Cullen and his wife had filed for Chapter 13 Bankruptcy protection in U.S. Federal Court for the Western District of Wisconsin in May 2012. In their petition they had sought several financial changes that they hoped would allow the business to remain open. As of Feb. 25, the bankruptcy proceedings still had not been finalized, according to online court records.
According to court records, under the terms of the land contract Northwoods was to receive a total of $1,253,627 between May 15, 2011, and Oct. 15, 2013.
Bosacki's Boat House, an iconic Minocqua hangout since 1917, closed in 2009.
Cullen of Madison said he had christened the restaurant and bar “Matt Morgan’s” after a Prohibition-era relative who knew how to have fun even when fun went underground.
The business was being managed by Matt Cullen Jr.
Prior to the filing of the bankruptcy petition Cullen and Paris were in default on the terms of the land contract, having made no payment since December 2011, according to court filings.
Matt Cullen Sr. said at the time of the bankruptcy filing the company had to be able to restructure its land contract with Northwoods Equity Investments in order to allow Matt Morgan’s to move ahead successfully.
The Cullen children – Bill, Matt, Catherine and Julia – were all in the hospitality industry and worked together in the venture.
Phone messages were left for Matt Cullen Sr. seeking comment for this story. He did not return those phone calls before this story went to press.
The Lakeland Times was unable to reach Matt Cullen Jr. for comment.
Joe VanDeLaarschot may be reached at firstname.lastname@example.org