BREAKING: Tyra Banks is facing a staggering $2.8 million lawsuit over her failed ice cream shop venture, Smize & Dream, in Washington, D.C. The lawsuit, filed by landlord Christopher Powell, alleges that Banks and her partner, Louis Martin, abandoned a signed 10-year lease in the Eastern Market area, leaving Powell to deal with significant financial fallout.
According to reports from NBC Washington, Powell claims that Banks and Martin reneged on their contractual obligations after signing the lease in April 2024. The landlord asserts that they vacated the premises in June 2024, despite having launched a nearby Smize & Dream pop-up shop attended by Vice President Kamala Harris during the active lease period. Powell’s complaint highlights his substantial investments in the project and loss due to the alleged breach of contract.
In a statement, Powell expressed that he faced “deep financial loss,” necessitating the legal action to recover damages. He claims to have turned down other potential tenants based on their agreement, which he now regards as a breach.
The legal filings from Banks and Martin’s defense team describe the lawsuit as “meritless,” suggesting that it is an attempt by Powell to extort money. They further clarify that the claims are directed at School of SMiZE LLC, rather than Banks and Martin personally. The defense also points to significant issues with the property, citing “myriad mechanical, electrical, and plumbing deficiencies” that required approximately $980,000 in repairs, contributing to their decision to withdraw from the lease.
Court documents reveal that Powell’s lawsuit includes demands for back rent and future monthly payments, culminating in the eye-popping $2.8 million figure. Powell’s attorney, Arziki Adamu, is expected to respond to the motion to dismiss filed by Banks and Martin’s legal team by December 30.
While Powell’s counsel has not provided further comments, this legal battle is intensifying, with the financial implications resonating deeply in the business community. The outcome of this case could have significant repercussions for Banks’ business ventures, as well as the future of Smize & Dream in the competitive ice cream market.
Stay tuned for further updates as this story develops. The stakes are high, and the clock is ticking on this unfolding legal saga.
