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>>

  • Temperature drops; snow moves in

    Temperature drops; snow moves in

    Wednesday, April 16 2014 6:15 AM EDT2014-04-16 10:15:30 GMT
    Fox 5 photoFox 5 photo
    Temperatures are below average for the remainder of the week. 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 made a return. 
    Temperatures are below average for the remainder of the week. 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 made a return. 
  • Push to save historic NJ baseball stadium

    Push to save historic NJ baseball stadium

    Wednesday, April 16 2014 6:08 AM EDT2014-04-16 10:08:26 GMT
    Volunteers are working to help save one of the only stadiums still in existence where black professional baseball teams once played. Hinchliffe Stadium in Paterson was once home to the New York Black Yankees, the New York Cubans and other Negro League teams. Eleven members of the National Baseball Hall of Fame played there, including Larry Doby.
    Volunteers are working to help save one of the only stadiums still in existence where black professional baseball teams once played. Hinchliffe Stadium in Paterson was once home to the New York Black Yankees, the New York Cubans and other Negro League teams. Eleven members of the National Baseball Hall of Fame played there, including Larry Doby.
  • 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.
Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

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