Intersection Files BK, Claims Theft
A former employee allegedly siphoned off cash that would have gone to operating expenses, forcing owners of
Joel Langlois, a director of ownership group Club Concepts, told the Grand Rapids Press the employee was fired March after Langlois discovered money was being diverted. Included in the alleged theft is $1.2 million owed the Internal Revenue Service.
Langlois said he’s met with local authorities who are investigating the missing funds. The 900-capacity club remains open
Club Concepts lists $1.9 million in debt owed to dozens of creditors including the IRS and Live Nation. Club Concepts is a spin-off from Delta properties that owns the
Langlois told the paper the former employee is believed to have “directed that tax payments not be forwarded to the appropriate taxing authorities,” resulting in large IRS and state liens against the club.
The bankruptcy filing also lists $170,000 owed the state of Michigan for unemployment taxes.
Club GM Scott Hammontree told the paper the Langlois family is “committed to keeping The Intersection open for another 20 years” despite the BK filing.
Shows currently on the books include Carbon Leaf; EOTO and Railroad Earth; Shooter Jennings and Edwin McCain.