An apartment community in Ohio has filed for bankruptcy after on behalf of its owners. The complex is located in City West and is a 686-unit building. The owners, The Community Builders Inc., have reported that they are filing for bankruptcy on behalf of two of their partnerships. The CEO stated that a restructuring is [...]
In the month of February, the amount of home sales have slipped in northeast Ohio and in the rest of the country. The sales of the new and existing homes in the 15 county region have gone down by nearly 14 percent. House sales are down from the year before, by condominium sales have rose. [...]
Harry & David Holdings Inc., have filed for Chapter 11 bankruptcy after a large sales decline in 2010. According to U.S. bankruptcy documents, Harry & David, has said that they struck a deal with holders for about $160 million. The fruit merchant and fruit basket seller has listed their assets and debts at $500 million. [...]
Foreclosure rates in the month of December have risen in Mahoning County from where they were at this time last year. According to newly released data, foreclosure rates reached 4.6 percent among those who have an outstanding mortgage. The foreclosure rate in the Mahoning Valley is higher than the national average which is at 3.58 [...]
The Joseph-Beth Booksellers, a Florida-based company, has announced that they will be able to exit their bankruptcy protection by this April. As a part of the bankruptcy process, the company will be up for sale at an auction. The deadline for the bid on the business is April 19. The company has a total of [...]
An artist in Ohio has recently filed for Chapter 7 bankruptcy and will not be able to pay back a $100,000 loan that was given to him in order to improve a building on Sixth Street. The artist bought the building in 2005 in order to save the block and took a loan out to [...]
A recent news release stated that Trinity Hospital Twin City has agreed to acquire Twin City Hospital in Dennison, Ohio. The purchase transaction will be officially over in 60 days when the Ohio Attorney General reviews the bankruptcy papers. The Trinity Hospital Twin City is an affiliate of an Ohio-based Fransican Services Corp. that includes [...]
Many people have struggled with their financial security over the past few years in the economic slow down. You may be facing debt that seems like it will never go away, but there are options that you have in order to discharge your debts and keep your property. Chapter 13 bankruptcy may be the best [...]
According to a California-based foreclosure tracker, the average foreclosed home in Ohio went for $79,835, which is a 43 percent discount. This number has actually decreased from the year before when it was a 47 percent discount. Foreclosure sales in Ohio are even lower than they are in other states. The average foreclosure sale in [...]
For the first time in a decade, the number of foreclosure filings have decreased in 2010 compared to 2009, according to information from the Ohio Supreme Court. The reports show that there were 85,483 foreclosure filings in commercial and residential properties in 2010. In 2009, there were 89,061 new case filings. Since the court began [...]
Blockbuster, the movie and game rental store, will be closing eight stores in Ohio during the month of April as a way for Blockbuster to avoid closing all together. The eight Ohio stores will no longer rent videos as of today and all of their merchandise will be on a liquidation sale. Blockbuster, based in [...]
The foreclosure rate in Ohio in 2011 is off to a slower start than the previous year, but many are saying that this is not a sign that the market troubles are ending, only that the lenders that were ignoring guidelines while processing have now stopped doing so. Since January of last year, the foreclosure [...]
Borders Group Inc. has announced that they will be closing two stores in Northeast Ohio as part of their bankruptcy reorganization and because of this, nearly 53 jobs will be cut. The director of economic developing is asking that Border's to not close the store in Mentor, which employees nearly 33 people. Borders is the [...]
The owner of the Hope Hotel and Conference has announced that he is planning to help the company emerge from bankruptcy by paying some of its unpaid sales tax to that state of Ohio. The owner of the hotel, Visicon Shareholders Trust, has also offered a $4 million lump sum payment a year after the [...]
FirstEnergy Corp. announced Wednesday that they may be selling its Freemont Energy Center that is located in Fremont, Ohio, to American Municipal Power Inc. The company has entered a nonbinding memorandum where the parties will participate in exclusive negotiations with American Municipal Power Inc. and will make an agreement by March 11 whether or not [...]
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