Castle Pines recently lost a piece of its restaurant scene, as Pino’s Italian Kitchen and Bar shuttered its doors at the end of September.
The 21-year-old Italian joint was owned by couple Dimas and Amy Asevedo, who announced the closing in a Facebook post on Sept. 29. On Oct. 7, Pino’s filed for Chapter 7 bankruptcy under the name Asevedo Group LLC.
Dimas Asevedo declined to comment when reached by BusinessDen.
Pino’s listed $61,000 in assets and $746,000 in liabilities in the bankruptcy filing. Chapter 7 bankruptcy is a liquidation process.
The restaurant reported revenue of $653,000 in 2023, and $587,000 in revenue for 2024 prior to its closure.
In its filing, Pino’s said the bulk of its debt is a nearly $550,000 loan from CrossFirst Bank, which is partially secured by furniture and equipment. Other major creditors are Chase Bank ($24,410), building landlord Proterra Properties ($51,816), former Pino’s owner Joe Sabia ($59,850) and another restaurant owned by Dimas Asevedo under Asevedo Group LLC ($48,036).
The Asevedos bought Pino’s in summer 2023 from Sabia, who had owned the restaurant since 2017, according to The Castle Pines Connection, a community news site. The restaurant operated as La Dolce Vita in the 14 years before Sabia took it over, the publication said.
Pino’s was Dimas Asevedo’s second restaurant venture. He also owns and operates the gluten-free seafood eatery Reelfish Fish and Chips in Lafayette, which he bought in 2021, per his Facebook page. He worked for Ameristar Casino Resort in Black Hawk and Grill & Vine at The Westin at Denver International Airport prior to owning, according to another story in The Castle Pines Connection published when Asevedo took over.
Asevedo tapped childhood friend Vince Santlebury as his executive chef at Pino’s, hoping to keep several staples from Sabia’s ownership while infusing a new touch, The Castle Pines Connection reported. Asevedo’s goal, he said, was to make Pino’s “the spot.”
Proterra Properties, the landlord, declined to comment when asked about the future of the space.
Castle Pines recently lost a piece of its restaurant scene, as Pino’s Italian Kitchen and Bar shuttered its doors at the end of September.
The 21-year-old Italian joint was owned by couple Dimas and Amy Asevedo, who announced the closing in a Facebook post on Sept. 29. On Oct. 7, Pino’s filed for Chapter 7 bankruptcy under the name Asevedo Group LLC.
Dimas Asevedo declined to comment when reached by BusinessDen.
Pino’s listed $61,000 in assets and $746,000 in liabilities in the bankruptcy filing. Chapter 7 bankruptcy is a liquidation process.
The restaurant reported revenue of $653,000 in 2023, and $587,000 in revenue for 2024 prior to its closure.
In its filing, Pino’s said the bulk of its debt is a nearly $550,000 loan from CrossFirst Bank, which is partially secured by furniture and equipment. Other major creditors are Chase Bank ($24,410), building landlord Proterra Properties ($51,816), former Pino’s owner Joe Sabia ($59,850) and another restaurant owned by Dimas Asevedo under Asevedo Group LLC ($48,036).
The Asevedos bought Pino’s in summer 2023 from Sabia, who had owned the restaurant since 2017, according to The Castle Pines Connection, a community news site. The restaurant operated as La Dolce Vita in the 14 years before Sabia took it over, the publication said.
Pino’s was Dimas Asevedo’s second restaurant venture. He also owns and operates the gluten-free seafood eatery Reelfish Fish and Chips in Lafayette, which he bought in 2021, per his Facebook page. He worked for Ameristar Casino Resort in Black Hawk and Grill & Vine at The Westin at Denver International Airport prior to owning, according to another story in The Castle Pines Connection published when Asevedo took over.
Asevedo tapped childhood friend Vince Santlebury as his executive chef at Pino’s, hoping to keep several staples from Sabia’s ownership while infusing a new touch, The Castle Pines Connection reported. Asevedo’s goal, he said, was to make Pino’s “the spot.”
Proterra Properties, the landlord, declined to comment when asked about the future of the space.