FALL RIVER – Assets from the Abbey Grill, the landmark Rock Street restaurant housed in the former Central Congregational Church, will be auctioned off in a bankruptcy sale tomorrow morning, The Herald News reported today.
The Abbey Grill closed in March after its owner, the Portsmouth chef George Karousos, ran into financial problems and filed for bankruptcy protection, the paper reported. Karousos opened the restaurant and a next-door cooking school, the International Institute for Culinary Arts, in 1997.
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Karousos’ bankruptcy filing listed $2.9 million in debts and $2.2 million in assets, but attorneys said the liabilities could wind up higher and the assets lower.
The Herald News said an auction of Karousos’ real estate, which includes the Abbey Grill and the adjoining Great Hall, has been delayed twice by Newark, N.J.-based Millennium bcpbank, which holds a $1.6 million mortgage on the property. It has not been rescheduled yet.
The Central Congregational Church was built in the late 1800s.
