August 8, 2018
Cowboys Far West, owners of San Antonio’s northeast side honky tonk Cowboys Dancehall, filed a bare-bones petition for Chapter 11 bankruptcy in federal court. The action took place after its lender, Crossroads 2004, put the venue at 3030 N.E. Loop 410 up for sale at a foreclosure auction originally scheduled for Aug. 7, 2018.
Cowboys currently holds between $10 million and $50 million in assets, and between $1 million and $10 million in liabilities. The venue also owes more than $186,000 in taxes and late fees to Bexar County.
The owner is not a stranger to bankruptcy, having filed in 2016 when its then-lender, Business Property Lending, initiated foreclosure proceedings. The club was allowed to remain open under a Chapter 11 reorganization plan approved in fall 2017. Cowboys Far West also secured Crossroads 2004 to take over its $4.2 million mortgage loan from Business Property Lending.
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