Motel in Outer Banks sought bankruptcy protection
Posted on Wednesday, August 5th, 2015 at 3:16 pm
A well-known motel business in Outer Banks, North Carolina recently filed for Chapter 11 Bankruptcy, claiming they have over $1 million worth of unsettled debts to creditors, the Triangle Business Journal reported on July 20.
Reports said the Cape Hatteras Motel in Buxton, which has been operating for four decades under the ownership of David and Carol Dawson, reportedly has unsettled property taxes and occupancy taxes to Dare County worth $30,000. Chapter 11 bankruptcy often offers businesses the opportunity to restructure their debts while remaining open.
The legal team at the Bradford Law Offices, PLLC, is dedicated to helping Raleigh business owners retain financial security. Chapter 11 bankruptcy is one such method of doing so, although there are other process that might suit your circumstances better. Learn about each individual bankruptcy process and whether or not this legal solution is right for your particular situation by calling our offices in Raleigh at (919) 758-8879 today.