Trenton's only hotel to seek bankruptcy protection - Los Angeles Local News | FOX 11 LA KTTV

Trenton's only hotel to seek bankruptcy protection

Posted: Updated:

Trenton's city-owned hotel plans to file for Chapter 11 bankruptcy protection as it seeks relief from $30 million in debt.The city's only hotel, which opened in 2002, recently lost its Marriott brand and is hoping to attract a buyer.

The Lafayette Yard Hotel and Conference Center is on W. Lafayette St. in the capital city.

Board attorney Gregory Johnson tells the Times of Trenton that closing the hotel is not an acceptable option. Johnson says the hotel has heard from eight potential buyers and filing for bankruptcy will help clear outstanding long-term debt to make way for a sale.

Johnson says he believes the hotel board could get an offer to at least cover the $13.3 million in bonds and loans backed by Trenton.

The hotel was opened with expectations to help transform the city's dangerous reputation but it struggled from the start.  The hotel has mixed reviews on tripadvisor.com.


Copyright 2013 MyFoxNY.com/The Associated Press.

  • New Jersey NewsNew Jersey NewsMore>>

  • Weather conditions ripe for brush fires in NJ

    Weather conditions ripe for brush fires in NJ

    Wednesday, April 23 2014 9:08 AM EDT2014-04-23 13:08:34 GMT
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
  • Undercover police officer shot during drug buy in New Jersey

    Undercover police officer shot during drug buy in New Jersey

    Tuesday, April 22 2014 5:45 PM EDT2014-04-22 21:45:36 GMT
    An undercover narcotics police officer was shot during a shootout with a suspect in a parking lot in Bergen County, N.J., Tuesday afternoon, according to a source. The shooting happened at about 1:45 p.m. at a Walmart and Marshalls shopping center in Garfield. The cop was hot in the hip and ankle, and was taken into surgery at Hackensack University Hospital, the source said.
    An undercover narcotics police officer was shot during a shootout with a suspect in a parking lot in Bergen County, N.J., Tuesday afternoon, according to a source. The shooting happened at about 1:45 p.m. at a Walmart and Marshalls shopping center in Garfield. The cop was hot in the hip and ankle, and was taken into surgery at Hackensack University Hospital, the source said.
  • Hoboken a top place for recent college grads to live, report says

    Hoboken a top place for recent college grads to live, report says

    Tuesday, April 22 2014 12:46 PM EDT2014-04-22 16:46:32 GMT
    Hoboken's vibrant downtown, access to more than 100,000 job openings and the large amount of rentals available rank the city among the best places for new college grads to live in the country, according to Livability.com. Hoboken ranked No. 6 in Livability.com's recently released list of the "Top 10 Best Cities for New College Grads 2014."
    Hoboken's vibrant downtown, access to more than 100,000 job openings and the large amount of rentals available rank the city among the best places for new college grads to live in the country, according to Livability.com. Hoboken ranked No. 6 in Livability.com's recently released list of the "Top 10 Best Cities for New College Grads 2014."
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices