Posted 4/15/2013 12:00 am
Remember when Cheeburger Cheeburger in west Little Rock suddenly closed last October?
We now have some clues as to why.
Comerica Bank of Dallas filed a foreclosure suit in January against Cow Patties LLC, the local franchisee that operated the burger joint in the Pleasant Ridge Town Center at 11525 Cantrell Road.
Comerica claims that franchise owners Mark and Kelly Shuffield defaulted on a $536,000 loan, which was secured by a second mortgage on their house in west Little Rock. Exactly when they quit making payments is unclear, but they were in arrears by the time Comerica made a demand in November. The Shuffields still owe a total of about $240,000.
By February, the Shuffields hadn’t responded to the bank’s suit, resulting in a motion for a default judgment.
No action has been taken on the suit since February. A phone number listed for the Shuffields’ home was disconnected.
Little Rock’s Cheeburger Cheeburger opened in 2008 to great acclaim. More than 60 locations of the 1950s-style restaurant are still open across the country. The chain itself is based in Sanibel Island, Fla.