A former Philadelphia skate shop employee who claims the business has yet to pay him more than $300,000 for business expenditures that the man made during difficult financial times for the business has filed suit against the shop seeking repayment for the borrowed funds.
South Philadelphia resident Mark Brandstetter is suing Nocturnal Skate Shop Inc., located at 620 S. Fourth St. also in South Philly, over $328,674.26 that the plaintiff claims he loaned to the shop while it was experiencing monetary difficulties.
The suit was filed July 5 at Philadelphia’s Common Pleas Court by Westmont, N.J. attorney Amy B. Sunnergren.
According to the complaint, it all started when Brandstetter was made aware of the company’s financial troubles. It was at this point that the plaintiff inquired about purchasing an interest in the business and agreed to assume some of its debt in order to free up various lines of credit.
After the offer was accepted, Brandstetter provided the company the use of his American Express card to purchase products for the business, the suit states.
Because of the business’s financial situation, the credit card was never paid off in full, with the unpaid balance each month subject to a 27 percent interest rate.
In November 2010, the parties formalized the agreement in a note that provided that the borrowers agreed to repay Brandstetter the sum of $14,700, the complaint states, plus accrued interest and late fees.
The agreement also provided for the payment of legal fees and other costs incurred in any collection action.
The agreement was signed by Kerry Getz, a Nocturnal employee who is also named as a defendant in the civil action.
The lawsuit claims that to date, Nocturnal has failed to make any payments to Brandstetter, although the plaintiff has demanded full and complete satisfaction of the agreement.
“Defendant has refused to acknowledge this demand,” the suit states. “Defendant breached the note with the plaintiff. Defendant’s failure to perform is without excuse or justification.”
Brandstetter demands damages in excess of $50,000 plus other court relief.
The case ID number is 120600665.
Philly skate shop sued by former employee over unpaid loan
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