Dear Friends and Court Tavern Family,
Once again I am in the position of writing an extremely difficult letter. We have 24 hours to raise $20,000 or we may be forced to close. I know that times are tough and it is the holiday season but it's not impossible, 4 people to lend us $5,000 ea. - 10 people/$2000 ea. - 20 people/$1,000ea - 40 people/$500 ea. and so forth. Here's why: We owe @ $26,000 in back property tax and water and sewer to the city of New Brunswick. A friend of ours knew we needed help and offered it based on the fact that he was selling his house and asked how much we needed. Bobby told him $20,000 or so. He said he could help us out provided his closing went through on Friday, which it did. Today he came in with $5,000, apparently all he could do. Bobby was under the impression that he could lend us the bulk of it. Now we are really screwed. We must pay the entire amount by 4:00 tomorrow ( Tues. 12/15 ) or it will go to tax sale. If it goes to tax sale the mortgage company will start foreclosure proceedings. Commercial mortgages are different that residential and the only way to stop it would be to file bankruptcy. The bankruptcy court will take over the business and liquidate it. The end of the Court Tavern. Bobby and I and Cassius have sacrificed so much of our family time and money over the years just trying to stay afloat. Everytime we are ready to throw in the towel , someone will come along and tell them how much the Court means to them so we keep on going. Tony Shanahan is in the process of organizing a benefit concert for us at the state theater in March. We thought we had it covered, borrow the money from our friend, pay the taxes, in March pay him back and have some extra cash to get caught up on some other stuff. Not going to happen. If you can help at all please call my cell phone at 732-887-1612 ASAP. All loans will be repaid in March with interest. We only have 24 hours. You can also text me if it's late tonight although I don't know how I'll sleep.
Sincerely,
Eileen Albert

Update on Tuesday, December 15, 2009 at 4:53PM by The Boss

Update!

Word on the street is that The Court Tavern was able to find someone to loan them the money. Nice!