Drake's Pub is located on Division Avenue S in Wyoming. Photo via fb.com
A local development company has acquired two bars in the area after their owners landed in hot water with the IRS.
Third Coast Development has partnered with Tony Knight to take ownership of Kuzzins Lounge, 741 Leonard St. NW, and Drake’s Pub, 3766 S. Division Ave.
Terms of the deal were not disclosed.
Third Coast acquired the businesses from the Farah family. Earlier this year, father and son Michael and Brian Farah were handed prison sentences of 18 months and 13 months, respectively, for their roles in a scheme to defraud the IRS by skimming money from the bars they owned and then destroying tax records.
Third Coast Development partners are Brad Rosely, David Levitt and Max Benedict.
Third Coast also brings partner Kevin Farhat to the deal. Farhat is the firm’s managing partner on its other restaurant venture, Garage Bar & Grill, 819 Ottawa Ave. NW.
“The success we’ve had at Garage Bar will help us enhance Kuzzins and Drake’s offerings while retaining the neighborhood character of both locations,” Benedict said.
Knight and Farhat will operate the restaurant and bar group.
Gradual changes will be implemented at both locations, although none are planned immediately.
“We respect the history and character of these establishments,” Knight said. “Our intent is to apply new systems to enhance the current operations and assist staff; next, we’ll enhance the food and service capabilities.”