Shreveport's Pepito XO to close, liquor license signature is blamed (2024)

  • BY LIZ SWAINE | Staff writer

    Liz Swaine

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At 8:11 a.m., Monday, September 16, Pepito XO investor Jeff Fair made it public on the restaurant’s Facebook page. “Our last day of business will be September 28. We have enjoyed serving you over the last two years. Please come and enjoy your favorite dishes a few more times over the next two weeks.”

“The reason we are closing is that Pepito refused to sign the city liquor license renewal documents,” Fair told The Shreveport Bossier City Advocate. “Every owner of 5% or greater has to sign an attestation that says he is not a felon, and so forth. It’s just one of those forms. He refused to sign it, so we can’t renew our liquor license.” Fair confirms the license expires the end of September.

Shreveport's Pepito XO to close, liquor license signature is blamed (9)

Fair says he has sent the license form and has tried to contact both Pepito Munoz and Munoz’s attorney but has gotten “radio silence.” “He has been totally non communicative,” Fair said of Munoz.

The Shreveport Bossier City Advocate called, left messages and texted Munoz and his Shreveport attorney attempting to get comments but received no response.

It is fair to say the last several months have been uncomfortable for the owners of Pepito XO.

On April 30, Munoz told the SBC Advocate that he was leaving Pepito XO to become the maire’ d at the soon-to-open Lafayette Superior Grill. After the story was published, Munoz insisted he had not made that claim, but days later, confirmed on social media that he was, in fact, leaving.

The revelation that he was leaving the Shreveport business that bore his name caught the Kim and Jeff Fair, who are 40% investors in the Shreveport Pepito restaurant, unaware.

They say the two to three million renovation tab for the buildout at 5815 Youree Drive was borne entirely by them and that Munoz was given huge latitude to make build out decisions based on what he wanted the space to be.

Shreveport's Pepito XO to close, liquor license signature is blamed (10)

“Hedid not put any money into the business. I funded everything. I loaned him the money for his 60%,” said Jeff Fair.

“I wanted him to have a restaurant and succeed.” Fair said he and his wife were in for 100% of the money, 100% of the risk, 40% of the return."

Fair, whose background is not in restaurants, believed the loan would be repaid and that all the owners would make money. “I was assured that we would make money from day one.”

“I would have been fine if we had just made enough money to break even and keep the 50 people employed. I like employing people and providing job opportunities and providing a good place to eat. That was my goal. I never set out to make a lot of money with this.”

And he did not.

Fair confirms that with the employees and overhead, Pepito XO needed to gross roughly $75,000 per week to break even. He said the restaurant achieved that briefly.

“Our goal was to make people happy and provide a good meal. I hope we did that for a couple of years and it’s unfortunate that we couldn’t do it for longer.”

Pepito XO on Youree Drive would be celebrating its one year anniversary in November.

Shreveport's Pepito XO to close, liquor license signature is blamed (11)

Fair says the experience is one he hopes to never have again. “I’ve never passed a kidney stone so I can’t compare it to that. I’ve opened a number of businesses in different industries and this one was definitely a unique experience.”

"Kim and I purchased the building, we own the property. We renovated it and we funded the restaurant, and we will continue to own the building and have expectations of good things coming soon.” “We’re not pleased with the outcome, but we are at peace.”

Email Liz Swaine at Liz.Swaine@theadvocate.com.

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Shreveport's Pepito XO to close, liquor license signature is blamed (2024)
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