George Chen, the owner of China Live, is facing a turning point for his business in San Francisco’s Chinatown, revealing plans to restructure under Chapter 11 bankruptcy. This decision arrives in the wake of a judge’s ruling that found the upscale food hall liable for $6.7 million in overdue rent. As per the San Francisco Chronicle, Chen does not plan to shutter China Live for now, but is instead hoping to strike a deal with the building’s lender within the next six to nine months. Should efforts fail, relocation is on the cards for the culinary hotspot.
Caught in a legal tangle for years, the situation worsened following a dispute with former landlord Chris Wight of Cypress Properties and the subsequent control of the building at 644 Broadway by a receiver. According to a San Francisco Business Times report, the receiver, Gregg Williams, now holds the authority to sell the property, leaving China Live’s fate uncertain. Despite the debacle, Chen expressed that the restaurant continues to work without interruption. “The business is current with its vendors and simply needs time to work out a mutually acceptable deal with the bank lender,” Chen explained, emphasizing an ongoing search for resolution.
The financial impact of the rent dispute has significantly hit Wight as well. He claimed that China Live’s non-payment forced him into defaulting on the building’s mortgage loan. The ownership and tenancy of the building at this juncture is a subject of negotiation. At the same time, Wight conveyed his intention to stay committed to the site’s future to the Business Times, saying, “This is a remarkable project that my partner Jeff Lee and I acquired in 2013 and developed with great care, and I remain committed to its future.”
Despite the legal issues local to San Francisco, Chen has continued to expand China Live’s brand footprint, with imminent plans for an Asia Live restaurant in Santa Clara and other ventures in the pipeline. However, a venture next to the Louvre in Paris finds itself “terminally delayed,” according to Chen’s words to the San Francisco Chronicle. Within these broader expansion efforts, the local Chinatown community braces to potentially lose a cornerstone that has notably contributed to revitalizing the area since its inception in 2017.
A representative pointed out to the San Francisco Chronicle that China Live has eagerly tried to find a middle ground by offering “more than double the market rate plus an additional $100,000 a month to pay down the judgement for the remainder of the lease that ends in October 2029.”
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