Brackett, 41, made the submitting for Chapter 7 individual bankruptcy safety on Aug. 27 in the United States Individual bankruptcy Courtroom of the Southern District of Indiana.
The filing says he has involving 50 and 99 creditors. His believed property are valued at a little extra than $2 million while his liabilities are shown as nearly $5.8 million.
Brackett did not immediately reply to inquiries from IndyStar.
The bankruptcy filing comes a lot more than a 12 months following the businessman and former Tremendous Bowl champion closed all of his Stacked Pickle spots owing to the coronavirus pandemic.
The athletics bar and restaurant had nine places in Indiana and one in Ohio. At the time of its closure, Brackett posted on social media that he experienced invested months consulting with advisors about the chain’s ongoing operations in the wake of limits placed on organizations because of to the pandemic.
“Sad to say, the reduction of many major sporting activities and a month and 50 percent of organization, mixed with on-likely limitations and the unsure period of this crisis, left us not able to find a practical fiscal route ahead,” he wrote in the article.
Brackett’s bankruptcy filing says that his money owed are primarily small business-similar.
In addition to the bankruptcy, Brackett is dealing with a pending lawsuit from Metropolis Life-style Heart about again lease on a buying centre lease.
Metropolis Way of living Heart alleges that Brackett defaulted on the lease at the Outlets at Perry Crossing in Plainfield and owes $182,360.91 in unpaid rent. The lawsuit was filed in July.
Brackett, a linebacker, performed for the Colts from 2003 to 2011. From New Jersey, he performed higher education soccer at Rutgers.