"A bank has reported the foreclosure of the Edinburgh Castle Pub, which has been for sale for over five years, and is permanently closed."
"Owner Tay Kim noted a shift in clientele over the years, stating that new residents in the neighborhood are less socially inclined and not regular drinkers."
"The bank filed a foreclosure lawsuit against the bar in February 2024 due to unpaid loan payments, leading to court-ordered possession and eventual auction."
"The closure marks a cultural loss, as the pub hosted significant theatrical events and was frequented by notable figures like playwright Irvine Walsh."
Edinburgh Castle Pub, a Tenderloin bar with a 66-year history, has permanently closed after a bank foreclosure. Owner Tay Kim had listed the bar for sale at nearly $4 million since 2019, but the business struggled post-pandemic due to changing clientele demographics. US Bank filed a foreclosure lawsuit in February 2024 for a $700,000 loan made in 2009, after the pub stopped making payments in 2023. The property will be auctioned, likely not to remain as a bar, marking a cultural loss for the community.
Read at sfist.com
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