El Mocambo: Legendary Toronto concert venue hits the market again [Video]

Toronto’s legendary El Mocambo is back on the sales block.

Less than five years after former Dragon’s Den star Michael Wekerle re-opened the storied concert venue, court documents show the businessman has defaulted on nearly $56 million in loans tied to the property.

An Ontario court appointed EY, formerly known as Ernst & Young, to oversee the sale of the club and its various assets.

It’s the latest turn for the 77-year-old venue, which has hosted generations of rock royalty, including the Rolling Stones, U2 and the White Stripes.

Wekerle purchased the property in 2014 for $3.8 million before he spent roughly $35 million on extensive renovations at the multi-level space, which included adding state-of-the-art stage equipment and a recording studio.

After years of delays, the venue re-opened in late 2021 with Canadian alt-rock band Our Lady Peace playing a splashy party hosted by Wekerle.

Court documents filed by lender Waygar Capital Inc. last month say Wekerle had …