On Friday, June 29, Peter Kasperski, owner of Cowboy Ciao in Old Town Scottsdale, filed Chapter 11 in U.S. Bankruptcy Court, District of Arizona. According to records, he owes $1.1 million to the Arizona Department of Revenue and $500,000 to the IRS. He also owes $298,000 to MidFirst Bank, $219,000 to the Scottsdale Canal Project, $10,271 to Nicola Imports, and $9,513 to Southern Wine & Spirits.
Word on the street is that Southern has stopped supplying Cowboy Ciao with alcoholic beverages until the debt has been paid. A representative of Southern says he cannot confirm this information.
Kasperski owes just under $1.5 million to private parties, including members of his family.
The restaurant is currently closed but scheduled to re-open on Thursday, July 5.
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In a phone call with Chow Bella, Kasperski says he closed the restaurant this week because it's the slowest week of the year. When he was asked about the bankruptcy, he affirmed that Cowboy Ciao is reorganizing adding that the down time is being used to clean the restaurant and take care of maintenance issues.