Trenton's only hotel to seek bankruptcy protection

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>>

  • Fire at Carlstadt Post Office

    Fire at Carlstadt Post Office

    Thursday, April 24 2014 7:50 AM EDT2014-04-24 11:50:47 GMT
    An overnight fire caused significant damage to a Carlstadt, N.J. post office.  It happened around 1:30 a.m. on Thursday at 331 1st Street.
    An overnight fire caused significant damage to a Carlstadt, N.J. post office.  It happened around 1:30 a.m. on Thursday at 331 1st Street.
  • Port Authority could rescind $1 NJ Transit lease

    Port Authority could rescind $1 NJ Transit lease

    Wednesday, April 23 2014 2:57 PM EDT2014-04-23 18:57:07 GMT
    NJ TransitNJ Transit
    The Port Authority of New York and New Jersey is holding its monthly board meeting, two days after it heard from a panel on what it needs to do to improve its accountability and efficiency and restore public trust.
    The Port Authority of New York and New Jersey could rescind a $1-a-year lease for a park-and-ride lot near the Lincoln Tunnel. The agency's chief of real estate and development told a committee Wednesday that it should change a deal made in 2012. Published reports have alleged that former Port Authority chairman David Samson voted to approve the lease even though his law firm did business with New Jersey Transit, which operates the park-and-ride lot.
  • Manchester police officers successfully help deliver baby with wrapped cord

    Manchester police officers successfully help deliver baby with wrapped cord

    Wednesday, April 23 2014 2:13 PM EDT2014-04-23 18:13:53 GMT
    As he tried to assist in the delivery of a newborn, Manchester Officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck. He was able to get his fingers around the cord and safely unwrapped it. That quick-thinking - and perhaps life-saving - move was one of several Manchester officers made when they delivered a newborn child last week.
    As he tried to assist in the delivery of a newborn, Manchester Officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck. He was able to get his fingers around the cord and safely unwrapped it. That quick-thinking - and perhaps life-saving - move was one of several Manchester officers made when they delivered a newborn child last week.
Powered by WorldNow

4739 NW 53rd Avenue, Sutie B
Gainesville, FL 32653

Phone: (352) 371-0051

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