Palace Theatre sues Wrecktangle for $1.6M
The Palace Theatre’s operators have sued Wrecktangle Pizza in Hennepin County District Court, alleging the company owes more than $1.6 million on a loan tied to their short‑lived joint venture, Wrestaurant at the Palace, which opened in 2023 and closed a year later amid water damage. Wrecktangle’s response admits no payments were made but counters that the Palace failed to dissolve the joint LLC, is using joint‑owned equipment for the new Palace Pub without crediting Wrecktangle, and disputes the claims; both sides tentatively agreed to a November 2026 trial if no settlement is reached.
📌 Key Facts
- Palace Theatre owned 51% of the restaurant venture; Wrecktangle 49%
- Palace says it fronted about $3.3M in startup/operating costs and is owed >$1.65M with interest/fees
- Wrecktangle co‑owner Alex Rogers personally guaranteed the loan, per filings
- Wrecktangle’s counter‑filing alleges improper dissolution, continued use of joint equipment at the Palace Pub, and lack of financial crediting
- Trial is tentatively set for November 2026 absent a settlement