Establishment run by a group of guys who think being an alcoholic makes them qualified to run a bar. Often stays open past the legal closing time to owner's friends, also, gives away free beer to owner's friends. Often frequented by bar whores who also get free beer because the owners hope to sleep with them. Usually closes it's doors in less than a year.
"Dude, that bar only opened eight months ago! I thought the owners had formed a corporation and were going to buy apartment buildings and stuff!"
"Yeah, but it closed and now one of the owners is living with his parents again. Must've been all the free booze they doled out to their friends and their bar whores."
"Wow, sounds like it turned into a real shenanigan's alley."