The failure of a karaoke bar in RiNo this year was caused not by market forces or the pandemic, its former investors say, but by an owner who wrongfully diverted $1.2 million from it.
Voicebox Karaoke opened in a 4,500-square-foot space at 2601 Walnut St. in 2016 and moved out this summer. Voicebox CEO Scott Simon told BusinessDen in March that it was forced out by a landlord who refused to be lenient when the pandemic tanked revenues.In a lawsuit filed Nov. 22 in Denver District Court, local developer Ken Wolf, his firm Wolf Investments and two other investors say they put $450,000 into Voicebox RiNo in 2016.
Voicebox was founded in Portland, Ore., and its two remaining karaoke bars are still there. Until this year, it had five locations in four cities: Portland, Denver, Boise and Fort Worth, Texas. The investors in Voicebox RiNo say Simon did not have authority to move that money around and withhold profits from them. They say they didn’t learn that he had until August.“As a result of the diversion, Voicebox RiNo no longer generates any revenues and Wolf Investments and have not, and will not, receive the preferred returns to which they are entitled to repay their capital investment,” their lawsuit states.
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