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Eddie Montgomery Files Bankruptcy
Debts Stem From Failed Restaurant in Kentucky
Eddie Montgomery (left) and Troy Gentry
Eddie Montgomery (left) and Troy Gentry
Eddie Montgomery of Montgomery Gentry has filed for bankruptcy in Lexington, Ky., listing liabilities totaling $13.4 million and assets of $1.9 million. The documents were filed Tuesday (Dec. 31) in U.S. Bankruptcy Court.

Montgomery's debts are largely the result of a failed business, Eddie Montgomery's Steakhouse, which he and wife Tracy Nunan opened in late 2009 in Harrodsburg, Ky., according to the Lexington Herald-Leader newspaper. The couple divorced in 2010, and the restaurant went out of business in May 2013.

The restaurant is scheduled to be sold Jan. 10 during a master commissioner's sale Jan. 10. Proceeds will be used to pay nearly $12.7 million in default loans to Central Bank & Trust of Lexington. Montgomery guaranteed the business loans, and the bankruptcy filing lists almost $8.4 million in claims, many related to the restaurant, the newspaper reported.

A house co-owned by Montgomery and Nunan on 273 acres in Boyle County has been listed for sale for $1.25 million.

John Michael Montgomery, Eddie Montgomery's brother, opened a restaurant in 2005 in Nicholasville, Ky., which later closed.

Montgomery and musical partner Troy Gentry emerged in 1999 with the debut single "Hillbilly Shoes." Their No. 1 hits include "If You Ever Stop Loving Me," "Something to Be Proud Of," "Lucky Man," "Back When I Knew It All" and "Roll With Me."

Montgomery Gentry have tour dates scheduled through July, according to the duo's website.
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