By Clyde Noel

Town Crier Correspondent

Loren Masters, owner of the Main Street Bar & Grill, closed the business permanently two weeks ago. Earlier last month, Masters filed a personal Chapter 13 bankruptcy because of a $51,000 debt.

“I voluntarily closed the Main Street Bar & Grill because it became apparent even after a reorganization, the fixed expenses were still higher than the business could carry,” Masters said. “Every day open was costing me money. Quite frankly, I ran out.”

Masters said several out-of-town investors are interested in the business and the Main Street Bar & Grill will be purchased later in a court hearing. A court date will be announced at a future time.

The restaurant was known as the Los Altos Bar & Grill for years; but earlier this year, Masters changed the name to Main Street Bar & Grill hoping to create new interest and bring in more business.

The restaurant has had numerous owners since it opened in the 1960s. The original owners, Robert B. and Deborah Clark, filed voluntary bankruptcy under Chapter 11 in May 1995.

Wendy and Richard Kim obtained the restaurant in August 1998 from the United States Bankruptcy Court through a trustee and sold it to Masters and Steven Holloway in November 2000.

Masters entered the restaurant business without any restaurant experience. She claims one of the individuals creating her bankruptcy action is ex-business partner Holloway.

“Learning how to do business in a hands-on mode is difficult,” Masters said. “Basically, Los Altos is not the type of town to open a restaurant business.”

The restaurant has long had a reputation as one of the few places to go after dark.