The owners of a Canal Walk restaurant are getting dragged into court just a month after shutting down one of their Fan eateries.
Jake Crocker and D. Hayden Fisher were sued last week after allegedly defaulting on a loan on their downtown restaurant Haxall Point.
R&S Vending LLC and Richard Medford filed the lawsuit Nov. 12 in Richmond Circuit Court against Crocker, Fisher and an LLC called Jacobus Rex. The case claims the owners missed three months of payments on a $50,000 loan that was used to help open the restaurant at 1001 Haxall Point.
The lender now argues the entirety of the loan is due, amounting to $47,224. The monthly payments were $4,532, the suit states.
Crocker and Fisher each guaranteed the loan, according to the suit. The case claims breach of contract against Jacobus Rex LLC and breach of guaranty against Crocker and Fisher.
Reached by phone on Thursday, Fisher said they made the first two payments on the loan and offered to make partial payments in recent months.
“The payments were going to resume and be resolved, but (R&S Vending and Medford) decided to file a lawsuit,” he said. “We plan to pay it back; we hope to restructure the deal.”
Paul D. Anders of Kaplan Voekler Cunningham & Frank is representing R&S Vending and Medford in the case. Anders would not comment on the matter.
Fisher said the loan was planned to be used to get a concept called the Mint Room by chef Malcolm Mitchell up and running in the Haxall Point space. Mitchell eventually pulled out of the venture, and the Mint Room never came to fruition.
The lawsuit states that Haxall Point no longer operates as a restaurant, but Fisher said it is still in business.
“Haxall Point is still doing pretty decent,” Fisher said. “It’s been challenging down there, but we think we’ve got a recipe now that works.”
Haxall Point was initially called F.W. Sullivan’s Canal Bar & Grille before its owners rebranded the restaurant.
The restaurant no longer does dinner service. It does do lunch, catering and events.
“Through that, we’re able to greatly reduce our overhead,” Fisher said.
This is the second local business by Fisher and Crocker to face adversity in recent months. In October, they closed Jorge’s Cantina at 2526 Floyd Ave. after failing to keep up with the rent.
Crocker and Fisher also own F.W. Sullivan’s in the Fan. Crocker is a part owner of Lady N’Awlins Cajun Café and Uptown Market & Deli.