Paseo says farewell to it’s customers. Photo by Jeremy Dwyer-Lindgren

Shedding some light on the mystery surrounding Tuesday’s sudden closure of beloved sandwich show Paseo, the company filed for bankruptcy yesterday afternoon.

In the petition to the United States Bankruptcy Court, Paseo Carribean Food, Inc. declared liabilities of $30,425. That number includes amount owed the company’s vendors ($10,000 to Macrina Bakery and $10,000 to Seat Bend Meat), as well as a handful of utilities (Century Link, Puget Sound Energy, Seattle Public Utilities, Waste Management). There is also an undisclosed amount owed in back taxes, both federal and state. And then there are the employees.

When Paseo put up signs at its two locations informing hungry customers of its demise, the news ellicited deep sadness on social media. That sadness turned to anger and frustration for many when a September lawsuit alleging wage theft and discrimination was made available online.

The four defendents in the lawsuit are mentioned as creditors petition, though the amount of the amount of money owed is listed as “unknown.”

In addition to those former employees, the petitions notes 16 additional employees who are collectively owed more than $6,000 in wages.

What the bankruptcy means for those employees is up in the air, though it’s possible that the company’s ownership, including its mysterious president Lorenzo Lorenzo, could be held personally liable. There is no record of any personal bankruptcy petitions in connection with the company.

According to the petition, Paseo’s two locations were doing brisk business, grossing $1.7 million since the beginning of the year, on pace with 2013’s gross of $2 million (which was up 25 percent from the year prior).

As for assets, the company is claiming $81,971 of personal property, including $2,000 cash on hand and more than $8,000 in a Los Angeles bank account. Paseo also claims more than $45,000 in equipment, from toasters to ovens to freezers. So, if you’ve been thinking about starting a sandwich shop, now might be the time.

mbaumgarten@seattleweekly.com