Bamboo And Karma In Seaside Heights File For Bankruptcy
Saddy Family LLC, owner of both the Bamboo Bar and Karma nightclubs, says in court documents that it has debts of $1 to $10 million and less than $50,000 in assets.
Both clubs gained national fame when they were featured on MTV's "Jersey Shore". Bamboo ran into more recent controversy when the owners spread flyers advertising a new reality show (which the town shot down rather quickly), and Karma got busted last Memorial Day after four arrests for underage drinking and six overdose calls.
There are no immediate plans for closure, as owners say both Bamboo & Karma will be open for the 2019 season.
There is a whole big mess going on in Seaside Heights, as the town is trying to distance itself from the reputation it received on MTV. While the town wants to be more family-friendly and less of a drunken destination for 20somethings, the clubs and bars who would suffer from that transition are fighting back. Saddy LLC has sued the town, so there is bad blood running already. It seems like the town would secretly be delighted if both bars were forced to close, so we'll see how this all turns out.
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