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Submitted by the Bond & Botes Law Offices - Tuesday, January 10, 2012
The CEO of Center Stage Alabama’s parent corporation has stepped down. Resorts Development Group II LLC announced the departure of CEO Jeff Rubin in a recent statement. The statement also addressed the company’s decision to file for Chapter 11 bankruptcy in order to remain open for business.
The entertainment venue, which includes restaurants, concert facilities and a bingo hall, re-opened in July of 2011 after closing in January of 2010. However, Center Stage Alabama incurred large amounts of debt as a result of the closure, prompting its parent company to seek relief through restructuring and bankruptcy.
In addition, Center Stage Alabama has cut ties with Mike Kneuer, its former vice president. In fall of 2011, Rubin and Kneuer were arrested by the Houston County Sherriff’s Department on drug-related charges.
Center Stage Alabama’s board of directors remain optimistic regarding the venue’s future, and they believe that the bankruptcy filing will allow them to complete the project as originally envisioned. The plan calls for Center Stage Alabama to grow into a major entertainment venue, with a focus on country music. Along with concert space and restaurants, the development offers paper and electronic bingo.
The Dothan Eagle’s report on this development can be found here.
