Try 1 month for 99¢
Oklahoma Joe's

Oklahoma Joe's was next door to Yowie's at Eighth and Q streets in the Haymarket. 

Investors in a failed Lincoln Oklahoma Joe's location have filed a lawsuit against the owners, claiming their investment was used to subsidize another restaurant.

EAG LLC and John and Sandra Rownd allege in their lawsuit that they bought $210,000 worth of private shares in a startup company whose purpose was to open an Oklahoma Joe's barbecue restaurant in the Haymarket.

The Rownds bought $60,000 worth of shares in the company and EAG LLC bought $150,000 worth.

According to the lawsuit, the owners of the company formed to operate Oklahoma Joe's — OKJ-NE LLC — were the same owners of TPN Enterprises, which owned Yowie's Lodge. Yowie's and Oklahoma Joe's shared space at 800 Q St.

The lawsuit says that the owners of the two companies, Jon Olsen, Chad Schaefer and Jeff Morrow, used the plaintiffs' investment in Oklahoma Joe's as well as the ongoing profits from the restaurant to subsidize the ongoing operations of Yowie's.

The plaintiffs are seeking the return of their $210,000 investment plus interest, as well as attorneys' fees and other unnamed costs.

Oklahoma Joe's closed in January after just six months in business. Schaefer and Olsen opened Yowie's in early 2016 in the same spot where Twin Peaks, which they also owned, had been. It closed about  the same time as Oklahoma Joe's.

The pair also are being sued by their landlord, Speedway Properties, for nearly $700,000 in unpaid rent and tenant improvements.

Lincoln restaurants that closed in 2018

Subscribe to Breaking News

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

1
4
3
0
1

Business editor/reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

Load comments