EpiCentre Developer Files For Bankruptcy, Vows To Stay Open


CHARLOTTE, N.C.,None - The developer of EpiCenter, an uptown Charlotte entertaiment complex, filed for Chapter 11 bankruptcy protection Thursday and prepared for a hearing in federal bankruptcy court at 11 a.m. Friday.

Regions Bank began foreclosure proceedings on EpiCentre last week because Afshin Ghazi fell behind on payments for a $90 million loan.

"I was shocked then and I'm even more shocked now," said restaurant manager Brett Furr after hearing about Thursday's bankruptcy filing.

Furr operates Wild Wings Cafe at EpiCentre.

The Chapter 11 filing allows Ghazi to keep EpiCentre open while he and his creditors work out a reorganization plan.

Ghazi told Channel 9 Eyewitness News Thursday afternoon, "You can't judge the success of the EpiCentre based on the failure of the financial markets."

Businesses in the complex are taking matters day-by-day.

"Our employees are still making money. We're still making money as a business. We come in every day and run it as a normal day," said Furr.

The Charlotte Chamber of Commerce and the city attorney had no comment when contacted by Channel 9 Eyewitness News because the city is not involved with the bankruptcy filing.