Brand owner have debts in the range of 1$ million to 10$ million
The company that owns the name of New York‘s legendary club CBGB has filed for bankruptcy.
The former punk venue, which hosted the Ramones, Talking Heads, Patti Smith and Blondie among many others, closed in 2006. Since then, it has lived on in the form of T-shirts and other memorabilia emblazoned with the club’s name.
However, CBGB Holdings LLC has filed for bankruptcy, reports Billboard. It lists debts in the range of $1 million to $10 million.