Well, downtownguy predicted right! Lotus is history! Unfortunately, the sales news isn't good for Bricktown, at least for this merchant.

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"Bricktown eatery falls after trying battle: Vendor lawsuit spurs closing
by Heidi R. Centrella
The Journal Record
1/11/2005



Staff and owners of Lotus Steaks Sushi and Seafood served their last supper Monday. Bill Tackett, Lotus co-owner, said the two-year-old restaurant closed after Arvest Bank decided not to hold the note.
The restaurant has experienced a 24 percent growth rate over this time last year. Still, Tackett said, they never hit their target sales for this market.

Tackett said his equipment vendor, to whom he owed a debt, changed hands. The new vendor, unaware of the repayment plan Tackett had with the original vendor, sued Lotus owners and their banks.

"They tried to negotiate with us some, but as a group of owners, we were unwilling to go the way that they wanted originally," Tackett said. "And then they sued."

Around the same time, Arvest Bank acquired the equipment note. Bank officials then decided not to hold the note, which resulted in Lotus closing its doors.

"We (Tackett and co-owner Kevin Crysler) had our whole lives in the restaurant - emotionally, financially, knowledge-wise, everything," Tackett said. "It was an unfortunate situation.

"They have their standard of performance, and I guess we didn't meet up to that expectation," he said. "As I said, we've never missed a payment - ever, ever."

Arvest Vice President and Sales Manager Becky Franklin said privacy issues would not allow her to comment on a customer's business.

Tackett said he and Crysler have made every attempt to place their 45 employees with other restaurateurs. He said the reason the restaurant stayed open an extra week was because all five of the owners wanted to make sure that all of the employees were paid.

"That's the bottom line," he said. "They're my family. I raised them. All five partners were insistent that our people were taken care of. That shows the character of the men who put this together.

"To the patrons, Kevin and I want them to know that we have so deeply appreciated the opportunity to have them in our home," Tackett said. "This is our house, our home."