12/09/2011 06:43 pm ET

Drew's Eatery, Killed By Daily Deals, Closes With Auction, Free Food Blowout

A vegan-friendly Chicago restaurant that apparently partnered with too many "daily deals" sites is having a farewell bash this weekend before closing its doors.

Drew Baker, owner of Drew's Eatery in Lincoln Square, will provide party guests with free food while auctioning off furniture, equipment and supplies to help pay off some final outstanding debts.

After finding sustainable success since its opening in 2008, the Drew's signed on for discount agreements with Groupon Now and Living Social, NBC Chicago reports. The first coupon arrangement broke even for Baker; the second left him $20,000 in the red, moving him to shut down the restaurant Tuesday.

"If I had figured out the math, I would never have signed the paperwork," Baker told the Chicago Sun-Times, emphasizing that he doesn't blame the deal sites, which he paired up with voluntarily.

Baker says his Living Social deal, which offered buyers $20 worth of fare for $10, a portion of which went to the deal site, did him in, according to the Sun-Times. Patrons rarely spent enough beyond their coupon value to absorb his $35-per-customer expenses.

The closing event is being billed as "a 'thank you' to all of our customers" and will offer free food and drinks off the menu from 11 a.m. to 6 p.m. Baker will be accepting donations to help close out his books and will sell raffle tickets for a chance to win his Wienermobile. A list of available auction items is on the restaurant's website.