Chicago's food and drink community is probably getting coal in their stockings this holiday season, and Wicker Park is probably getting even more turnover. Bom Bolla, the highly-regarded new Spanish cava wine bar and restaurant on Milwaukee Avenue from the Pops For Champagne folks, is likely closing two days before Christmas due to financial woes, partner and operations manager W. Craig Cooper confirms. The spot has been open for just less than seven months.

The crux of the situation comes down to funding. Bom Bolla was light on capital from the outset, Cooper says, and combined with the large space in expensive Wicker Park that includes a yet-to-open second floor and rooftop that they're also paying rent for, as well as 2 p.m. weekday opening hours that tax labor costs, and the situation became dire. "The funding wasn't there for us to operate in this space while we wait for it to catch on," he says.

Despite the critical acclaim and expected neighborhood business after six months in, part-owner and chief investor Tom Verhey, the man behind sister concept Pops For Champagne, decided to pull the plug. "We were confident that if we had time we would bring the whole city in," Cooper says. "(But) the powers that be don't have faith that it'll turn around. (Tom) had to make the call he had to make."

Cooper says he started alerting employees to the possibility two weeks ago. "The reason we made it official was that I wanted to give my staff notice," he says.

A tiny chance exists that Bom Bolla can be saved, however, if an investor steps in to boost funding. "There's a possibility of a new owner but it's not a strong possibility," says Cooper. Danny's Tavern is one example of a well-regarded spot that recently almost closed in Wicker Park/Bucktown but stayed alive, although that was a landlord dispute and didn't change ownership.

As it stands now, Dec. 23, when it was already set to close for a holiday break, will be Bom Bolla's last day in business. Cooper also emailed a statement, which you can read below.