Little Mexico's closing may lead to new business

11:52 PM, Mar 25, 2013   |    comments
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GRAND RAPIDS (WZZM) -- A court-appointed receiver who now controls the property of the Little Mexico Restaurant predicts a new eatery will be located in the building within the next six months.

The owners of Little Mexico at 401 Stocking Ave. NW filed for Chapter 7 bankruptcy protection last January due to back taxes, mortgage payments and other debts. The business closed March 21.

United Bank owns the property, and the receiver is trying to sell the business to pay off the debts.

"The west side is going through a whole redevelopment that it has not seen in a very long time," says Amicus Management's Daniel Yeomans, who is the court-appointed receiver. "The future looks really good."

Yeomans says there has been a great deal of interest in the Little Mexico property -- mostly from people who want to use it for a restaurant.

Another factor making the site so valuable, according to Yeomans, is that it is near the future headquarters of Rockford Construction. Rockford has also purchased property around the restaurant with plans for redevelopment.

Little Mexico was destroyed by fire in September 2008. The owners decided to rebuild, and reopened the restaurant two years later.

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