Fenix Underground files for bankruptcy
The Fenix Underground, a mainstay on the Seattle nightclub scene for more than a decade, has filed for Chapter 11 bankruptcy. The club, known for...
Seattle Times staff critic
The Fenix Underground, a mainstay on the Seattle nightclub scene for more than a decade, has filed for Chapter 11 bankruptcy.
The club, known for booking local and national rock acts, is still open for business as it reorganizes. But only a few events appear on the calendar at www.fenixunderground.com.
"The problems that led to this are related to past locations," said club general manager Jules Cooper. "We do have the ability to pay our current month-to-month costs, plus we have extra. We intend to be out of bankruptcy in eight to 10 months."
The Fenix was originally in Pioneer Square's Cadillac Hotel, at South Jackson Street and Second Avenue South. It was forced to move after the Nisqually earthquake on Feb. 28, 2001.
The Fenix remained in Pioneer Square, reopening in 2003 at 109 S. Washington St. Three years later, however, then-co-owner Rick Wyatt said he was having trouble filling the club and was considering a move.
The Fenix relocated again last fall to its current spot at 1700 First Ave. S., south of Safeco Field. The 22,000-square-foot venue has a lounge and concert room with a 1,700-plus capacity.
Cooper said Wyatt was no longer one of the club's several partners, which at one point included actor John Corbett, known for TV shows such as "Northern Exposure."
The bankruptcy petition, filed Tuesday, said the Fenix has liabilities between $100,001 and $1 million, and one to 49 creditors. Some debt, Cooper said, is connected to the Federal Emergency Management Agency. He would not elaborate.
"We've got a solid chance of getting through it," he said.
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