Raleigh hotel business owner filed for Chapter 11 bankruptcy
Posted on Tuesday, June 30th, 2015 at 7:37 pm
A Raleigh-based hotel franchise owner recently filed for Chapter 11 Bankruptcy after it cited liabilities up to $10 million, the Triangle Business Journal reported on June 22.
Reports said Harish Gihwala, who owns AHKH L.L.C., sought bankruptcy protection in the U.S. Bankruptcy Court in North Carolina. In the bankruptcy documents filed by Gihwala last month, it listed Time Warner Cable, Waste Industries, and Coca-Cola Bottling as some of the company’s creditors. The report also revealed that the owner of “Quality Inn” filed for Chapter 11 Bankruptcy back in 2011. Businesses that are under Chapter 11 Bankruptcy are allowed to continue their operation while restructuring their unsettled debts, so the hotel is not expected to close.
The legal team of the Bradford Law Offices, PLLC, legally assists business owners in Raleigh area who have decided to file for bankruptcy. If you are in such a situation, we may help you take the steps to protect the future of your business. Learn more about your legal options by calling (919) 758-8879 today.