The Mill, which closed suddenly in downtown St. Pete, sued over loan default
By Breanne Williams
Tampa Bay Business Journal
Published: Feb 14, 2023

An investor is suing downtown St. Petersburg restaurant The Mill and owner Jason Griffin for allegedly defaulting on a $270,000 loan.

KOSP Holdings LLC — an entity linked to Dr. Jason Levine, an investor in The Mill — filed the lawsuit on Feb. 10 in Pinellas County Circuit Court. According to the lawsuit, in July 2020 Levine and The Mill began negotiating an agreement to fund the business operations of the restaurant. In August 2020, The Mill entered into a loan agreement for $270,000.

Monthly, interest-only payments were to begin in September 2020, and the entire principal amount would be due in August 2024. The restaurant's closure constitutes a loan default, according to the lawsuit, and KOSP Holdings is demanding the entire principal sum plus accrued interest and fees.

The investor alleges in the lawsuit that The Mill did not pay the interest payment that was due on Feb. 1. On Feb. 7, Levine notified The Mill that it had defaulted, and the entire loan — plus accrued interest and fees — were due.

Griffin told the Tampa Bay Business Journal on Tuesday that he has not been served with a lawsuit by KOSP Holdings LLC. Griffin personally guaranteed the loan, according to the lawsuit.

The Mill, which had been leasing a storefront in the 200 Central office tower since the summer of 2015, announced in January it was closing its doors.

Griffin previously said the construction of Art House, a nearby 42-story luxury condo tower, had created unsafe conditions in the restaurant. A source with knowledge of the situation told the Business Journal the restaurant was behind on rent.

Griffin previously told the Business Journal that attempts to sell the restaurant had been affected by the construction of the neighboring condo tower. He said they had considered closing the restaurant once construction began but believed they could keep the business afloat until it was sold.