Latitude 360, Inc. (OTC: LATX) today announced that
following a settlement agreement and full release of all liabilities with 30
West Pershing, LLC, a subsidiary of EPR Properties, the company has closed its
Indianapolis, Indiana, and Jacksonville, Florida, entertainment/eatery venues.
According to management, the deal removes significant
liabilities and clears the path for the company to explore new locations and
joint ventures.
“We want to thank these communities for their support and
loyalty over the years as Latitude 360 developed and refined our award-winning
concept. Although there is disappointment in closing these two locations, our
brand and concept remain strong and we feel that this settlement will provide
the company the opportunity to expand the Latitude 360 brand to multiple new
locations across the country. We will always cherish the memories and great
times we had with our guests in Jacksonville and Indianapolis,” Latitude 360
CEO Brent Brown stated in the news release.
Latitude 360 CFO Alan Greenstein agrees, further noting,
“This settlement will allow our company to improve its balance sheet and
position ourselves for planned future growth.”
For more information on the company visit
www.latitude360.com
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