NARRAGANSETT, R.I. — The owner of longtime Point Judith restaurant Charlie O’s Tavern, which closed its doors suddenly last month, filed for bankruptcy in late April, according to court documents.
Christopher Simon submitted paperwork filing for Chapter 7 bankruptcy on April 26 in U.S. Bankruptcy Court in the District of Rhode Island.
A meeting of creditors is scheduled for June 13.
The documents show Simon reported $1.3 million in total assets, including a full interest in the 2 Sand Hill Cove property where Charlie O’s is located, listed at $1,049,400.
Total liabilities are listed on a May 24 amended filing as $5.9 million.
Among the claims listed is a $1.69 million loan taken out in 2016 for Sand Hill Associates, Ltd., which is the business name of Charlie O’s. The unsecured portion amounts to $642,487.
The filing also shows Simon owes $23,792 in taxes to Narragansett.
Other creditors in the filing include various food and beverage service providers and other vendors associated with restaurant operators, several banks and utilities such as National Grid.
Simon checked a box on the filing stating he has between 50 and 99 creditors.
Charlie O’s opened in 1990, when Charlie Samaras bought, renovated and renamed an old fishermen’s bar at the end of Point Judith Road called The Point. It became a popular restaurant that drew visitors from all corners of New England and was a regular spot for college students.
In 2006, Samaras sold his shares to Simon, a longtime employee, who started working at Charlie O’s in 1993 as a waiter and gradually became Samaras’ right-hand man.
In 2017, Charlie O’s discontinued use of its second floor except for storage, because the fire code required a sprinkler system. At the time, Simon estimated the cost to install sprinklers to be $75,000 to $100,000.
Locals noticed two weeks ago that the restaurant was closed and that a sign taped to the door simply said, “Closed today. Thanks.”