While famed New York venue CBGB closed in 2006, its name will live on forever – or will it? CBGB Holdings LLC, the company that bought the right to license and market the CBGB name, filed for Chapter 11 bankruptcy protection this past Friday in Manhattan, according to the Wall Street Journal. The company had paid $3.5 million for the company’s intellectual property in 2008. In its filings, the company reported assets and debts in the range of $1 millon to $10 million. That’s a hell of a lot of T-shirts.
10 years ago, to think that CBGB would be closed five years later was almost incomprehensible. In addition to being known as the birthplace of punk, it also hosted many a Sunday afternoon hardcore matinée. Even when the club closed, it seemed like its name would live on forever, so to think the . The venue’s logo is almost as iconic as the legend of the club. And while CBGB Holdings might be failing, it’s almost a certainty that someone else will pick up the intellectual property of New York’s most famous venue.