Crackpot Restaurant Closes Abruptly After Selling Thousands In Gift Cards

Neil Smith, owner of two Crackpot Restaurants in Maryland, recently shut down one of them and left employees without pay and gift card holders without compensation. Smith says his other restaurant won’t honor the cards because they’re technically owned by different corporations: “He said he’s the sole owner of the Towson location, but he and a group of people own the [now closed] Bel Air location.”

Crackpot owner Neil Smith told 11 News that his bank took over the place, locking all of his assets.

Smith said he’s looking into filing for personal bankruptcy because the Bel Air restaurant has all but sent him into financial ruin. He insisted that he and his shareholders did all they could to keep the location open.

Smith also said he’s in the process of sending paperwork to the bank to try to help his employees, but didn’t give 11 News an answer about the gift cards.

If you live in the area, you might want to reconsider giving Smith any of your business so that he has time to come up with an answer.

(Thanks to S.F.!)

“Closed Restaurant Leaves Customers Without Refunds” [MSNBC]