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IRS to auction Old Armory inventory, van July 15

Posted: June 26, 2015 1:32 p.m.
Updated: June 29, 2015 1:00 a.m.
Tenell Felder/C-I

A banner hangs from the former Old Armory Steak & Seafood restaurant on Rutledge Street announcing a public auction by the U.S. Internal Revenue Service (IRS). The IRS, which seized the business in April for non-payment of federal and state taxes, will auction off inventory and a van on July 15 at 11 a.m.

The U.S. Internal Revenue Service (IRS) will auction off Old Armory Steak & Seafood restaurant’s inventory and a van belonging to the restaurant on July 15.

Two notices concerning the public auction appeared in Friday’s classifieds pages. The auction will take place at 11 a.m. at the former restaurant at 514 Rutledge St. in Camden.

IRS agents entered the restaurant while customers were eating lunch on April 14 and seized the business with assistance from the Camden Police Department. A court order authorized the IRS to “seize and enter the premises” occupied by owner Demetrious Voulgarelis due to unpaid federal taxes. An examination of federal tax liens filed against Voulgarelis, Old Armory and a dissolved limited liability corporation called Three Friends of Camden Inc. revealed hundreds of thousands of dollars of unpaid back federal and state taxes.

The long list of items the IRS plans to auction July 15 include, but is not limited to, ovens, stoves, freezers, tables, sandwich preparation stations, beer coolers and kegerators, pots, pans, flatware, dishwashers, cleaning supplies, mixers, grills, plates, cups, glasses, tableware, condiments, dry storage areas for food and drink, chairs, bar stools, televisions, wine, liquor, beer, outdoor seating items, office equipment and supplies, a point of sale system and catering items.

The IRS is reserving the right to offer the property “in aggregate,” meaning one buyer could bid to purchase all the inventory at once.

While the IRS is not listing a minimum bid for the inventory, it is listing a minimum bid of $3,600 for the van it plans to auction. It is a 2002 Ford E250 Econoline full size van with a V8 5.4 liter engine with 132,360 miles.

Bidders may ask the IRS to furnish information about any encumbrances (liens, debts, etc.) against any of the items for bid. The property may be inspected between 1 and 4 p.m. on July 14, the day before the auction.

All payments must be made by cash; by certified, cashiers or treasurer’s check; or by U.S. postal, bank or express money order.

The IRS made no mention of the building the restaurant occupied, although, generally speaking, the IRS seizes real estate along with the businesses they contain. According to online county records, BDD Real Estate LLC is still listed as the owner of the property. Public records were unclear as to whether Voulgarelis is still a BDD member.


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