The St. Louis Business Journal reported last week that a pair of entities tied to a closed Waterloo bar and restaurant have filed for bankruptcy.

A business and property entity tied to Big Rod’s Roadhouse, 1324 Jamie Lane, on June 26 filed Chapter 7 bankruptcy in East St. Louis. The business run by Rod Washausen is closed, and its property is for sale for $995,000, with annual property taxes of $25,414. 

A Chapter 7 filing allows businesses to eliminate most unsecured debts by liquidating non-exempt assets.

J.D. Graham, an attorney for the businesses – Washy’s Saloon Inc. and Washy’s Properties Waterloo LLC – didn’t respond to a request for comment, the publication stated.  

A bar called Washy’s Saloon previously operated from the property.

A listing broker, Joe Hardin of BarberMurphy, said most of the tables, chairs, fixtures, games and signage have been removed from the bar, which closed last year, but that the kitchen is still complete and most of the bar boxes and fixtures remain.

The 7,500-square-foot building, built in 1999 and remodeled in 2023, “is in very good condition,” with lots of parking and exterior space, Hardin said. 

Prior to Big Rod’s Roadhouse and Washy’s Saloon, it was BoBeck’s Sports Bar & Grill. 

The St. Louis Business Journal reported that Big Rod’s listed $36,000 in assets and $836,000 in liabilities, including $528,000 owed to the U.S. Small Business Administration. Creditors with unsecured claims, according to the article, include Joe Hand Promotions Inc. of Pennsylvania with a $150,000 claim tied to copyright infringement. 

Washy’s Pub of Columbia is also owed $55,000 tied to a business loan.  Washausen also owns Washy’s Pub, which continues to operate.

The entity that owns Big Rod’s, Washy’s Properties Waterloo, said it’s worth $1.06 million, but $896,000 is still owed on a mortgage with First National Bank of Waterloo. Back property taxes of $14,374 are also due to the Monroe County treasurer’s office, according to court papers.

That entity also has unsecured creditors: First National Bank of Waterloo ($200,000 for a mortgage on different property at 6414 D Road in Waterloo); Washy’s Pub Inc. ($213,000 for a business loan); the SBA ($169,000 for a business loan); and Washausen ($109,000 for a business loan).