T.I.'s Sunken Restaurant "Scales 925" Files For Bankruptcy
According to reports obtained by The Blast, T.I.'s Scales 925 restaurant has filed for chapter 7 bankruptcy. The claim was filed by T.I.'s business partner Charles Hughes on behalf both parties. Chapter 7 protection is essentially a liquidation process in which a court appointed trustee is tasked with selling f the business's assets in order to repay its creditors.
The court documents reveals a 40/40 split in ownership between Charles Hughes and Clifford Harris aka T.I, with the other 20% divided in fives among 4 other interested parties. The document reveals a meager total $5,000 in assets, and no clean balance hidden liabilities. The IRS and the Georgia Department Revenue will make their total assessments known after tabling an "integrity inquiry."
Apparently the reasons for the dissolution Scales 925 is the headache created by a number employees filing lawsuits over issues stemming from wages and overtime pay. Although their domain name remains active, Scales 925 closed its doors in 2016 while it was facing eviction. For his part, T.I. denies any involvement in the unpaid wages. He maintains his role was as an investor, and that he played no part in the day-to-day operations the establishment, or the hiring firing said employees.