It’s no secret that the District is a difficult market for making a business work; in fact, just last week, it was announced that D.C. leads the entire nation in first-year business failures.
Unfortunately, even Michelin-Starred restaurants are not exempt from that struggle.
Earlier this year, two of the District’s fine dining restaurants (one of which even had a Michelin Star) were forced to shut down by the D.C. Office of Tax and Revenue (OTR), and now D.C. is auctioning off those assets from the tax seizure.
The two restaurants in question were Gravitas, which had a Michelin Star, and Michele’s, both of which were owned and operated by Chef Matt Baker and his 101 Hospitality.
OTR first siezed the two restaurants back in January as a result of over $700,000 in unpaid taxes between the two businesses, but now there are plans to auction off assets from the two restaurants online!
What items are going to be auctioned off?
The District’s Office of Tax and Revenue shared that they plan to auction off assets to generate enough proceeds to satisfy the creditors.
According to the Washington Business Journal, the auction will apparently include:
- Original Fine Art
- Rare Concept Posters
- High-end Electronics
- Commercial-Grade Restaurant Equipment
- Premium Furnishings
- Wines
- Spirits
When and where is the auction going to be held?
The D.C. Officie of Tax and Revenue shared that they hope to conduct an online auction starting on April 23rd, however they have not share more detailed information about how the auction will be carried out.
This means, that while we know that assets from the restaurants Gravitas and Michelle’s will be up for an online auction later this month, it unfortunately remains unclear where the online auction will be hosted or who will be overseeing the bidding process.
Because of this, we suggest checking back here for updates over the next week as more information becomes available to the public!
