After four years of troubled partnership with Giancarlo Parretti, Madeo restaurant co-owner Bruno Vietina has officially “bought out” his Italian partner and severed all ties with the former MGM owner.
“It’s finished,” Vietina told Daily Variety. Parretti didn’t meet his financial promises and “didn’t give me any money.”
In an attempt to salvage the previous film industry hot spot on Beverly Drive , Vietina had to forfeit two out-of-town Madeo restaurants and the L.A. Tramp. “We worked out a deal with the bank to pay off debts,” and “get out of bankruptcy.”
In an attempt to clear the restaurant’s name, Vietina emphasizes that all financial ties with Parretti were severed on Dec. 21.