1406333369-kenn_wilson_tavern_law.jpg
PHOTO BY KENN WILSON

Two Eastside real estate professionals recently bought Tavern Law, a swanky cocktail bar on 12th Avenue and East Madison Street, after bar owner Brian McCracken filed for bankruptcy in May, Capitol Hill Seattle reported.

In June, CHS reported on the $2.4 million bankruptcy behind the sudden closure of 12th Ave’s The Old Sage. According to documents filed in Western District of Washington United States Bankruptcy Court, McCracken and his wife filed May 20th for chapter 7 protection over some $2.4 million in debts. The big number is owed to Key Bank — $1,248,498.16.

McCracken opened the bar with chef Dana Tough in 2009.

McCracken also shuttered his other craft cocktail bar, Belltown's Spur Gastropub, in April. The closure was the result of financial problems, The Seattle Times reported. At the time, writer Tan Vinh reported that McCracken was "adamant ... that The Old Sage and Tavern Law would remain open, despite several Tavern Law employees saying some of their checks have bounced." The Old Sage, which served up smoked meats and malted beverages, closed in June.

Currently, Tavern Law is still open. The bar's new owners, Mark O’Shea and Derek Straight, have not announced their plans for the bar, said CHS.

Tavern Law representatives did not return The Stranger's calls for comment at the time of publication.