Gisler Bankruptcy Signals the End of Southern Hospitality

The owners of Southern Hospitality Management Co., a Fayetteville catering and special events management firm, have filed a bankruptcy petition and closed the business.

Frederick “Fritz” Gisler and Lea Ann Van Winkle-Gisler of Fayetteville filed under Chapter 7 on Aug. 7. Nearly all of the $496,425 in total liabilities is listed as business debt.

The petition lists assets of $261,216.

Chapter 7 of the U.S. Bankruptcy Code allows individuals to liquidate assets to pay their debts. The business’ assets were sold at auction in May, with the net proceeds of $12,678 paid to Arvest Bank.

Creditors include Richard Berquist, a commercial photographer and owner of Teatro Scarpino in Fayetteville. The Gislers owe him $75,000, according to papers filed with the petition.

The couple also operated Scarpino Entertainment, Southern Hospitality Gifts and Southern Landing at Drake Field under the SHMC corporation, according to Arkansas Secretary of State records. The company founded in 2006 closed May 15, the petition states.