DES MOINES, Iowa — Michael Krantz, the owner of Steer N' Stein was already facing a more than $200,000 lawsuit from a contracting company, but now the Iowa State Fair says Krantz owes them $100,000 for unpaid fees.
The restaurant's owner's attorney sent Local 5 News a statement claiming that the fair changed how it collects funds from vendors this year, which "resulted in confusion," and "temporary cash flow issues." However, the attorney did not further explain what changed in the process of collecting funds.
Krantz's attorney added, "all outstanding obligations will be resolved very soon."
Krantz currently works on one-year contracts with the fair, just like many other restaurants. The fair owns the building's location and Steer N' Stein just leases it every year.
A lawsuit filed in district court by Advanced Problem Solutions states Krantz owes them $218,000 for work done on the restaurant and at his home.
Krantz's attorney also said amid the lawsuit and debt claims, the Steer N' Stein business is not for sale, and Krantz is not considering bankruptcy.
The Iowa State Fair will discuss the future of Steer N' Stein at its board meeting scheduled for next week.