Trenton's only hotel to seek bankruptcy protection - FOX 26 News | MyFoxHouston

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>>

  • Crash in Lincoln Tunnel causes major delays

    Crash in Lincoln Tunnel causes major delays

    Tuesday, September 2 2014 3:06 PM EDT2014-09-02 19:06:51 GMT
    One of the tubes of the Lincoln Tunnel was closed for nearly four hours after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says three people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.
    One of the tubes of the Lincoln Tunnel was closed for nearly four hours after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says three people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.

  • $1M Powerball ticket sold in NJ set to expire

    $1M Powerball ticket sold in NJ set to expire

    Tuesday, September 2 2014 2:23 PM EDT2014-09-02 18:23:45 GMT
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
  • Princeton worker told to choose medical pot or job

    Princeton worker told to choose medical pot or job

    Tuesday, September 2 2014 2:19 PM EDT2014-09-02 18:19:48 GMT
    A Princeton University employee says he has been told to choose between medical marijuana and his job.
    A Princeton University employee says he has been told to choose between medical marijuana and his job.
Powered by WorldNow

KRIV FOX 26
4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

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