So, you know how Bill the Butcher just closed the doors on their Seattle-area locations in order to "reassess their finances?" According to the Seattle Times, CEO J'Amy Owens spent "hundreds of thousands" of the company's money to help buy a 5-BR Queen Anne home her family lived in, portraying the payments as a lease of "corporate facilities." That probably didn't help.
We actually featured the home way back in 2012 when it was on the market asking $2.25M. The 5,000+ sq. ft. home originally built in 1912 "includes a tea house, Japanese garden and Eastern-style design touches." The property also includes a detached studio unit.
Owens's purchase agreement on the home expired in June 2013, which explains why it went back on the market in July (and we noted the sheep fetish therein, which makes a lot more sense now). It makes even more sense according to an anonymous former employee who says Owens has "been pulling the wool over peoples eyes for years."
That former employee noted serious red flags when she started working for the company, including one that took place in the home:
"I was...concerned when I went in for my face to face interview and walked into an incredible loft apartment in Lower Queen Anne with furnishings and original artwork to die for, this is a start up remember, a start up with NO money..." Considering the recent closures, that's more right then you realized. Owens moved out of the home this past weekend so expect to see a new listing, sans sheep, very soon.
· Cash-poor Bill the Butcher paid for CEO's fancy Queen Anne home [ST]
· Bill the Butcher Is on the Chopping Block [CS]
· A Tudor with Japanese Touches on Queen Anne for $2.25m [CS]
· This Week in Strange, Weird & Terrible Seattle Real Estate Listing Photos [CS]