Earlier this afternoon, ShredQuarters LLC reached a deal with Steve Clements and Avalon Properties LLC to buy the former Avalon property at 1314 Bardstown Road. ShredQuarters LLC is the real estate holding entity for the property, with the operating entity being El Camino LLC.
The real estate closing should take place in a week to ten days according to El Camino owner Shawn Cantley. "We're looking at about 5 mos. from the closing for build-out, licensing, etc., before we open," Cantley said today via email.
In September Cantley told Insider Louisville, "There are three pillars to El Camino...a Tiki-style bar program, Mexican street food like you'd find in East Lost Angeles or Mexico City, and California surf music."
Expect more details about El Camino once the deal is closed.
Along with Cantley, Larry Rice, chef Jonathan Schwartz and Cantley's wife Vanessa (who won't be involved in the operations of the restaurant) are the people behind El Camino LLC. Cantey and Rice are the owners of The Silver Dollar. Their interest in the former Avalon property first became public in August.
Clements closed Avalon in July after the Kentucky Derby Museum fired his catering company, Clements Catering. The museum later sued Clements, alleging false accounting.
·Avalon to be refurbished, reopened as El Camino [Insider Louisville]
·LAWSUIT: Restaurant owner cooked the books, Derby Museum claims [WDRB]
[Photo: Courtesy Visit South]