Former Colts LB and Stacked Pickle owner Gary Brackett files for bankruptcy
Brackett, 41, filed for Chapter 7 bankruptcy protection on Aug. 27 in U.S. Bankruptcy Court for the Southern District of Indiana.
The record indicates that he has between 50 and 99 creditors. Its estimated assets are valued at just over $ 2 million while its liabilities are valued at nearly $ 5.8 million.
Brackett did not immediately respond to requests from IndyStar.
The bankruptcy filing comes more than a year after the businessman and former Super Bowl champion closed all of his Stacked Pickle locations due to the coronavirus pandemic.
The sports bar and restaurant had nine locations in Indiana and one in Ohio. As it closed, Brackett posted on social media that he had spent weeks consulting with advisers on the chain’s continued operations following restrictions on businesses due to the pandemic.
“Unfortunately, the loss of several important sporting events and a month and a half of activity, combined with the ongoing restrictions and the uncertain duration of this crisis, has prevented us from finding a viable financial path for the future,” he added. he wrote in the post.
Brackett’s bankruptcy filing indicates that its debts are primarily business-related.
In addition to bankruptcy, Brackett faces a pending lawsuit from the Metropolis Lifestyle Center over the rent arrears on a mall lease.
The Metropolis Lifestyle Center alleges that Brackett defaulted on the lease of the Perry Crossing stores in Plainfield and owes $ 182,360.91 in unpaid rent. The complaint was filed in July.
Brackett, a linebacker, played for the Colts from 2003 to 2011. From New Jersey, he played college football at Rutgers.