A soul food restaurant franchise that opened its headquarters in Ocala in 2021 has been sued for foreclosure and has closed its locations.
Last week, attorneys representing JDMM Holdings filed a foreclosure complaint against Celebrity’s Management Company, the company behind the Celebrity’s Soul Food franchise.
According to the complaint, the company entered into a mortgage agreement for the property located at 2631 SE 58th Avenue in Ocala in February of 2021.
The company allegedly agreed to pay “$762,086.79, together with interest at the rate of 6.5% per annum,” according to a promissory note attached to the complaint.
The terms of the promissory note show that the company was allegedly responsible for “monthly payments of principal and interest in the amount of $6,638.59,” and that payments commenced on March 1, 2021.
The payments were scheduled to continue on the “1st day of each month thereafter until February 1, 2026,” at which time “all principal and interest” was due, according to the note.
The note indicates that the “balloon mortgage” was to have a “final principal payment” of $588,104.06.”Â
The complaint accuses the company of failing to pay “the payment due February 1, 2023” and of owing “the sum of $700,767.00.” It demands a judgement “foreclosing the mortgage.”
Celebrity’s Soul Food opened its first restaurant franchise at 2237 SW 19th Avenue Road, Suite 102 in September of 2021. In addition to Ocala, restaurant franchises opened in both Tennessee and Utah.
Earlier this year, the company closed its location in Ocala. All of its other locations are currently listed as “permanently” or “temporarily” closed, according to their Google Business profiles.
Celebrity’s Soul Food describes its menu as “quality casual,” featuring “elevated staples of soul food favorites” that have “partaken in a cultural fusion influence from around the globe.”
According to the company’s website, Celebrity’s Soul Food seems to be pivoting towards possibly opening ghost kitchens in Orlando and Salt Lake City, Utah.