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Food & Drink

Pig and Pearl closing its doors November 30th

This little piggy is closing up shop and moving on.

Published

9 years ago

on

Image: Pig and Pearl Facebook
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Pig and Pearl owners Mathew and Season Appleget announced its closing on CBS6 and did a bit of finger-pointing at GRTC construction.

They followed up with this Facebook post:

The restaurant was also in the news back in October of last year when the restaurant owners were sued by investors. Details on the lawsuit were originally posted on Richmond BizSense.com.

After allegedly not turning a profit in 2013, the lawsuit claims Appelget reported $1.2 million in gross revenue for Pig & Pearl in 2014 during a January 2015 conference call with Sethna. The lawsuit also states that Mathew Appelget promised to provide 2014 tax returns when they were filed, along with quarterly financial statements.

But the Appelgets deployed stall tactics in providing Sethna with Pig & Pearl’s books, the lawsuit claims.

By June 2015, the lawsuit alleges that Pig & Pearl’s tax returns were submitted through the Appelgets’ businesses’ certified public accountant, which ultimately showed no profit was derived from the $1.2 million in revenue.

More recently, Richmond BizSense.com reported this past June that the owners of the building and the restaurant sold the building for $1.2 million.

The property that houses The Pig & Pearl at 2053 W. Broad St. was purchased June 16 for $1.2 million, according to city records.

The building was sold by Season and Mathew Appelget, a couple that owns and operates Pig & Pearl and owned the real estate through 2053 W Broad Street LLC. They bought the building in 2009 for $750,000.

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Richard Hayes is the co-founder of RVAHub. When he isn't rounding up neighborhood news, he's likely watching soccer or chasing down the latest and greatest board game.