Disney Parks have taken legal action to protect a debt that Marrakesh Moroccan Restaurant LLC has to the Company.
Today, Disney Parks filed a UCC Financing Statement with the state of Florida, claiming collateral against “all goods, inventory, Furnishings, and all other items of personal property belonging to [Marrakesh Moroccan Restaurant LLC]…[in all] restaurants, cafes, quick service restaurants, retail areas, concession areas, kiosks, hostess stands, back-of-house areas, storage areas, office areas, and any other areas where [Marrakesh Moroccan Restaurant LLC] does business”.
Marrakesh Moroccan Restaurant LLC has faced some financial hardship as a result of COVID-19 and reduced foot traffic in EPCOT. Back in April, Marrakesh Moroccan Restaurant LLC filed for a $1-2 million Paycheck Protection Program loan for their 260 employees. More recently, Tangierine Café was forced to reclose due to lack of demand after initially reopening with the rest of EPCOT in July.
According to nsii.net, the type of document that Disney World filed today is an “initial financing statement. An official form which contains the names and addresses of the debtor and secured party and a description of the collateral. A creditor files a Financing Statement to provide public notice of a security interest for the purpose of perfecting the interest.” Essentially, Disney Parks have made a loan of some type to Marrakesh Moroccan Restaurant LLC and has listed tangible property as collateral should the loan not be repaid.
As of publish time, it’s unknown what type of debt Morocco might have to Disney Parks, but we will continue to follow the story and keep you updated right here on BlogMickey.com.
Loan is probably in connection with past due or deferred rent …
It’s my understanding that country pavilions, at least in the beginning of EPCOT, were sponsored by the host country. Maybe, it changed over the years to contractors simulating a feigned experience. Business is business, but it disappoints me if it really is ‘host government’ sponsoring it, and Disney taking financial action against the Morrocan Pavilion. There is the American Main Street. Do people know that Morocco was the first country to recognize the USA as a country? Disney should do the Morocco Pavilian a solid.
I contacted Disney several years ago about how dirty the restaurant had gotten. Water dripping from ceiling, possible mold. Sad because my kids loved their food.
They may still sponsor pavilions but it wouldnt be more than here’s some money from our tourism funds to keep the area up.
While I think the pavilion being run by private Moroccan investors allows for authenticity, I think it is very mismanaged and would be better off to be ran by Disney.
Not many people know this but the Owner of the Moroccan Pavillion owes over $500k in repair bills, maintenance, and other services rendered over the last few years. Disney has stopped servicing them because of the massive debt that the owner refuses to pay. Outside companies have stopped answering service calls too because of unpaid service bills. It has become public knowledge that the Owner of the Moroccan Pavillion recieved the PPP Loan (Payroll Protection Program) but didn’t use any of this money to actually pay his workers. As a matter of fact, all Moroccan Pavillion staff had to file for unemployment, and was forced to take a 30% pay cut in order to come back to work. Having Disney involved is the best thing right now.