The venerable Portland independent is another victim of the Covid-19 virus as the flight of businesses from downtown and replacing them with the nightly protests that have rocked Portland resulted in a Chapter 11 filing in Oregon bankruptcy court. A balance sheet with the filing shows assets of $1,531,809 including inventory valued at $583,553 against liabilities of $3,352,109, including inventory payables of $1,037,399 and a debts payable to the founding Solomon family of $2,109,384 by current owners Ed and Carrie Ariniello.
Downtown merchants have seen their businesses deteriorate in recent years as Portland became a magnet for homeless. Major corporations have ... Log in to view full article.