Taste owners heading for bankruptcy

The Taste of Minnesota is back in the frying pan.

A dozen creditors are forcing the event's owners into bankruptcy with the hope of collecting more than $237,000 in unpaid debts.

The group filed a petition Wednesday against International Event Management, which took over the music-and-food festival in 2009, for involuntary Chapter 7 bankruptcy. The creditors range from restaurants to a fencing company.

Andy Faris, International Event Management's managing partner, said Wednesday afternoon that he hadn't seen the bankruptcy petition. He declined to comment further.

Faris sent a letter to creditors at the end of October saying the festival company couldn't pay its bills and announced that it was shutting down the Taste of Minnesota, which has been held annually in St. Paul on the July 4th weekend.

"He [Faris] didn't have enough money to put on this show, but he did anyway," said Sam Stern, an attorney for several of the petitioners. "It didn't work."

Stern said he wants a court-appointed trustee to investigate whether the company's partners are personally liable for repaying the debts. He said he expects more creditors to join the filing in the next 30 days, which is how much time International Event Management has to respond.

In October, the city of St. Paul booted International Event Management from Harriet Island and severed ties with the firm for not paying its bills. The city, which is not a party to the bankruptcy filing, is owed more than $110,000.

A replacement festival is being sought. The city is currently reviewing four proposals for a July 4th weekend event and expects to have a deal in place by the end of the month.

The Taste of Minnesota was first held in 1983 as a celebration for folks who wanted to stay in the metro area for the holiday. It had been held for many years on the State Capitol grounds and then moved to Harriet Island, across the Mississippi River from downtown St. Paul, in 2003.

Hundreds of thousands of people over the years have attended the event, which had been free until 2009 when International Event management took over.

The new owners made immediate changes, updating the food and band lineups and improving the sound system. But the admission charge -- $20 to $30 this year -- and bad weather led to poor attendance at this year's event. That led to a big loss of money.