Right after New Orleans' LGBT community gets a win, it faces a (relatively minor) loss: Oz, the famous gay club on Bourbon and Saint Anne Streets in the French Quarter, has declared bankruptcy and will be sold at auction, according to NOLA.com.
The owners, faced with foreclosure after being unable to pay back several loans, have decided to sell the property. Apparently an "interested party" has already placed a bid for $4.75 million, and if they win they plan "to continue to operate the bar as the Oz." Oz is valued at $12 million.
Wanna buy a gay club? Anyone interested in bidding on the property is required to qualify with the Lugenbuhl, Wheaton, Peck, Rankin & Hubbard law firm by July 10, and bids must be made in $50,000 increments. Let's hope this is resolved before Southern Decadence gets here.