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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