Lawsuit Filed Against Quartet Claims Insolvency Imminent

Photo of Quartet courtesy Avila/EPDX

Financial backer Roy Jay filed a lawsuit in Multnomah County Circuit Court last week against the opulent South Waterfront restaurant Quartet, claiming that the spot is "hemorrhaging" money. The Portland Mercury takes an in-depth look at the suit, which names Quartet co-owners Frank Taylor (owner of downtown's Portland Prime) and Paul Keeler (of the Arizona-based Keeler Hospitality Group) as defendants, claiming mismanagement left the business short on funds just a few months in: "Vendors would no longer accept the LLC's checks or credit... Given the foregoing, the LLC is in imminent danger of insolvency."

A former employee (who asked not to be named) told Eater that by April, all of the original management staff had departed, and checks for the front-of-house staff started bouncing as early as March. According to the Merc, a separate source says that tips are currently being withheld at Portland Prime "in order to keep the lights on." Jay is suing for his original investment of $70,000, plus $500,000 in damages. Updates as they become available.
· The Waterfront's Swanky Quartet Restaurant Near Insolvency [Blogtown]
· All Previous Quartet Coverage [Eater PDX]