Milwaukee-area chef and restaurant owner Thomas Hauck has filed for bankruptcy after closing German restaurant Karl Ratzsch earlier this year, Biz Times (Milwaukee) reported yesterday. Hauck purchased the downtown Milwaukee restaurant in January 2016 and reopened it in mid-April of that year. He announced the closure of the restaurant on April 2, saying many factors went into the decision. In chapter 7 filings, Hauck and his wife listed assets of approximately $410,000 with more than $3.4 million in debts. Those debts include nearly $2.3 million owed to building owner Colby Abbot Building LLP for a business lease, along with $267,000 in personal loans from a family trust, roughly $120,000 to individuals on the restaurant management team who made business loans for the restaurant and trade debts to Miller Bakery, Purple Door Ice Cream and Usinger’s.
