According to articles in the Boston Business Journal, Sai Restaurants Inc., which is owned Vinod Kapoor, filed for protection under the federal bankruptcy code this week. Kapoor is the owner of the Indian restaurant Masala Art in Needham, and he and his wife have also been behind Curry Leaf in Natick and Bombay Club in Faneuil Hall and the South End, all of which are now closed.
The Boston Business Journal articles mention that Sai Restaurants Inc., has assets between $100,000 and $500,000 with liabilities being between $1 million and $10 million.
It is not known whether Masala Art will remain open during the bankruptcy proceedings; as soon as we find more information on this, we will post an update here. [June 7 update: Masala Art is indeed still open during the bankruptcy procedure.]
The address for Masala Art is: Masala Art, 990 Great Plain Avenue, Needham, MA, 02492.
For more information on this story, please go to the following Boston Business Journal links:
Restaurateur Kapoor files for bankruptcy
Prominent restaurateur files for Ch. 11
Thanks to the person behind the website http://midnightoilwriting.com/ for bringing this to our attention.
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