Gatti’s Pizza on Wilkinson Boulevard is rescheduled for public auction May 21 after a five-week delay.
Franklin Circuit Judge Phillip Shepherd ordered the 5.5 acres at the site to be sold after Fifth Third Bank, in Lexington, filed a complaint saying Richard Hayes, of Lark Enterprises Inc., owed it about $2.4 million.
The auction was originally slated for April 9, but the parties agreed to a postponement to give Hayes a chance to produce a payment plan.
“Apparently they tried to work out some kind of resolution,” said Special Master Commissioner John Baughman.
However, putting the building up for auction doesn’t mean the pizzeria will go out of business, Baughman said. The restaurant’s fate will depend on the buyer.
Construction for the restaurant began in 2009 at the site of the former sand and gravel quarry on Wilkinson Boulevard.
The restaurant, which remains open, seats 485 and offers arcade games for entertainment.
In 2009 The State Journal reported the setbacks Hayes encountered while the 15,300-square-foot building was under construction. Hayes had plans to build a fitness center and office on the site.
The auction will be 11:30 a.m. May 21 in the conference room near the front door of the Franklin County Temporary Courthouse.
The sale’s proceeds will be applied to the cost of the auction and to the debt, interests, costs, advances and attorney’s fees of Fifth Third Bank, according to court records.
Hayes could not be reached for comment.