They will probably never open again after McMahon’s Prime Steakhouse and Old Pueblo Grille were seized by a U.S. bankruptcy court this week. The Court made the move more than a year after the restataunts’ owner Bob McMahon filed bankruptcy for his McMahon Properties LLC.
The properties were part of the bankruptcy which included debt and back taxes.
In January 2014, McMahon filed for Chapter 11 bankruptcy protection in an effort to postpone the auction of his eight-building complex on the corner of North Swan and East Fort Lowell. The building complex was in foreclosure at the time.
According to McMahon the last appraisal determined the property to be worth $13 million in 2007.