Tom Sandoval, Tom Schwartz end their joint business venture, Schwartz & Sandy’s

Tom Sandoval and Tom Schwartz are facing major financial blows by the end of 2024.

The Vanderpump Rules stars are comprehending their 2022 bar business after money matters getting out of their and due to Sandoval’s cheating scandal.

The two opened the bar, Schwartz & Sandy’s, in November 2022, right after Sandoval’s scandal of cheating his longtime girlfriend, Ariana Madix. The cheating scandal is now popularly known as Scandoval.

“Deciding to close was one of the hardest decisions we’ve made,” Schwartz shared with People magazine in closing statement.

“We agonized over it for quite some time because we truly believe it’s a great bar, still ripe with potential. Unfortunately, the current climate for this business is pretty rough. Recovering from all the negativity post-scandal wasn’t easy, and the slimmer margins post-COVID made it even harder to bounce back.”

Schwartz added, “It’s already a tough business, and the damage from relentless negative press over the last year made it even harder. It was difficult not to feel resentful and bitter, but eventually, we had to let it go — no more replaying what went wrong.”

The bar was the second business of the two stars opened together after they launched a restaurant and bar TomTom in 2018 with Lisa Vanderpump.

The primary reason of the closure of the LA bar was stated as Sandoval. The pair posted their decision to close the bar in a statement shared to Instagram on Monday.

“With a heavy heart, we’ve made the difficult decision to close Schwartz & Sandy’s at the end of December,” Sandoval shared. “This hasn’t been an easy choice for my partners and me, but other priorities and commitments have taken hold. While this business venture has been an incredible stepping stone in my life, one I will always cherish, I look forward to exciting new endeavors.”

The statement continued: “The allure of being associated with reality TV has hidden what is an amazing spot and location for L.A. locals,” he wrote. “I highly recommend you check us out, especially if you haven’t yet. Let’s get together one last time.”