Tough Times For Eddie Montgomery
Montgomery Gentry’s Eddie Montgomery has filed for chapter 7 bankruptcy protection in Lexington, KY.
He lists $13.4 million in debts and $1.9 million in assets. Part of the debt is due to the closing of his restaurant, Eddie Montgomery’s Steakhouse, last May as Eddie guaranteed the business loans used to launch the restaurant.
His lawyer, Jamie Harris, says Eddie’s divorce played a role in the filing too saying, “It is very common with individuals dealing with divorce and business closure to have to seek out bankruptcy relief.”
Edie’s home in Boyle County, KY is also on the market for $1.25 million.