Former Real Housewives of Atlanta star Peter Thomas has suffered a major business loss. His Sports One Bar & Lounge in Charlotte, North Carolina, was recently closed due to financial hardships.
According to TMZ, the establishment is currently more than $237,000 in debt, which ended up causing a federal tax lien. The site reports that Thomas plans to rectify the issue by closing the establishment's doors, paying the bill down, and reopening when things are back on track.
theJasmineBRAND.com further reports that Thomas plans on paying the debt off "within the next six months to a year," and further clarified that, according to a source, "it wasn't personal taxes, it was business taxes."
They added that Sports One Charlotte will make a comeback without Thomas as he is preparing for the grand opening of another location: Bar One Miami.
Both sites claim that the stacks of debt came as a result of poorly managed investments in other projects, which led to the establishment falling behind on its taxes.
In response to the reports, Thomas took to Instagram to post the following message: "Hard work never stop over here, got to get these people their money, the shuffle hustle is real."
(Photo by Paras Griffin/Getty Images)