PENSACOLA, Fla. – A prominent Pensacola businessman is facing foreclosure on several well-known downtown businesses.

According to court documents, several properties owned by Collier Merrill are in foreclosure at Truist Bank.

These include Fish House, Atlas Oyster House, Jackson’s Steakhouse, Five Sisters’ Blues Cafe and Angelena’s.

Court documents also list several other properties and businesses in Pensacola.

Merrill spoke to WEAR News on Tuesday afternoon and said all restaurants are safe and will not be closed.

He says a low-interest loan of about $8 million that covered many of the properties came due earlier this year and the new interest rate was far too high.

Merrill says he is currently negotiating with another bank to refinance his debt and pay off the debt to Truist.

He says the deal will be backed by about $20 million worth of real estate, including downtown’s Seville Tower.

Angelena’s restaurant announced that chef James Briscione and his wife Brook Parkhurst, the restaurant’s wine director, will be leaving their positions to pursue other ventures.

Merrill says her departure had nothing to do with the foreclosure.

Merrill says sous chef Ian Gillette will take over executive chef duties.