Downtown Home Of Sly Fox Jam Eng Sells Amid Bankruptcy

## Downtown home of Sly Fox, Jam-Eng sells amid bankruptcy **Philadelphia Business Journal | May 18, 2023** The building that houses popular Fishtown businesses Sly Fox Brewing Co. and Jam-Eng is being sold after business owners failed to make debt payments on the property, according to court records and real estate listings. The building at 1534-36 Frankford Ave. has been listed for sale for $4.5 million less than a month after Sly Fox filed for bankruptcy protection. Both Sly Fox and Jam-Eng are owned by Eric Klaus, who filed for Chapter 11 bankruptcy in mid-April. The building is owned by 1534 Frankford Holdings, an entity controlled by Klaus. The LLC took out a $6.25 million mortgage in 2019 with Bayview Loan Servicing, according to property records. The mortgage is now in default and Bayview has listed the building for sale. Sly Fox has been a tenant in the building since 2003 and Jam-Eng, which specializes in Chinese and Indian food, moved into the space next door in 2017. Both businesses are closed due to Sly Fox's bankruptcy filing. It's unclear what will happen to the businesses if the building is sold. Sly Fox's bankruptcy filing states that the company owes more than $1 million to creditors. Jam-Eng is not named in the bankruptcy filing. The sale of the building is the latest development in a string of financial troubles for Sly Fox. The company closed its Pottstown location last year and laid off a number of employees. Klaus has said that the company is facing challenges due to the rising cost of ingredients and competition from larger breweries. The sale of the building is expected to close in June.