NEW ORLEANS (WVUE) - A popular French Quarter dance club has declared bankruptcy.
Oz, billed as New Orleans' No. 1 gay dance club, will be sold to the highest bidder, according to our partners at Nola.com/The Times Picayune. The dance club will be sold during a July 22 auction.
The owners of Oz were allegedly unable to pay off millions in loans that were due last summer, the paper reports. This forced the owners to sell the business.
An attorney for one of the owners says an interested party has already entered a bid of nearly $5 million.
If that bidder wins, he intends to continue to operate the club as Oz, according to reports.
The club is located at 800 Bourbon Street.