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>>

  • Temperature drops; snow moves in

    Temperature drops; snow moves in

    Tuesday, April 15 2014 10:59 PM EDT2014-04-16 02:59:53 GMT
    Fox 5 photoFox 5 photo
    The mild weather made an exit in the Tristate region and snow moved in late Tuesday into Wednesday. Scattered showers, heavier rain, thunderstorms, and strong winds were expected. Reports of heavy, wet snow have come in from the Hudson Valley, northern New Jersey and New York City. The snow is not expected to accumulate for very long.
    The mild weather made an exit in the Tristate region and snow moved in late Tuesday into Wednesday. Scattered showers, heavier rain, thunderstorms, and strong winds were expected. Reports of heavy, wet snow have come in from the Hudson Valley, northern New Jersey and New York City. The snow is not expected to accumulate for very long.
  • Suspect Sandy charity begins distributing dollars

    Suspect Sandy charity begins distributing dollars

    Tuesday, April 15 2014 3:21 PM EDT2014-04-15 19:21:56 GMT
    A Superstorm Sandy charity that was suspected of fraud has started distributing money nearly a year after a settlement with New Jersey prosecutors. The unregistered Hurricane Sandy Relief Foundation handed out $225,000 to four charitable organizations in New Jersey and one in New York.
    A Superstorm Sandy charity that was suspected of fraud has started distributing money nearly a year after a settlement with New Jersey prosecutors. The unregistered Hurricane Sandy Relief Foundation handed out $225,000 to four charitable organizations in New Jersey and one in New York.
  • Dead whale found in New York Harbor will be taken to NJ

    Dead whale found in New York Harbor will be taken to NJ

    New Jersey NewsNew Jersey News
    Fish and wildlife officials are preparing to perform a necropsy to find out why a 30- to 35-foot whale was found dead in New York Harbor. A spokesman for the Army Corps of Engineers said Tuesday that the whale was found a few days ago. It has been moved next to a barge so that it does not disrupt ships' navigation.
    Fish and wildlife officials are preparing to perform a necropsy to find out why a 30- to 35-foot whale was found dead in New York Harbor. A spokesman for the Army Corps of Engineers said Tuesday that the whale was found a few days ago. It has been moved next to a barge so that it does not disrupt ships' navigation.
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