Charles City development company files bankruptcy

The development company behind an $8.6 million Charles City project has filed for bankruptcy protection.

Posted: Apr 30, 2019 7:41 AM
Updated: Apr 30, 2019 8:38 PM

CHARLES CITY, Iowa (AP) — The development company behind an $8.6 million Charles City project has filed for bankruptcy protection.

The Chapter 11 bankruptcy was filed last week by attorneys for McQuillen Place Co. LLC, listing more than $3.2 million in unsecured claims for the top 20 creditors.

Project developer Charles Thomson has declined to comment about the filing, which effectively stopped foreclosure proceedings. A Chapter 11 bankruptcy allows the filer to restructure finances under bankruptcy court protection.

The project plans called for retail stores on the first floor, with 33 apartments on the second and third levels of the 50,000-square-foot complex (4,645 square meters).

Article Comments

Mason City
Clear
83° wxIcon
Hi: 84° Lo: 63°
Feels Like: 86°
Albert Lea
Clear
81° wxIcon
Hi: 82° Lo: 60°
Feels Like: 85°
Austin
Scattered Clouds
84° wxIcon
Hi: 84° Lo: 62°
Feels Like: 85°
Charles City
Clear
81° wxIcon
Hi: 83° Lo: 63°
Feels Like: 85°
Rochester
Clear
80° wxIcon
Hi: 78° Lo: 58°
Feels Like: 83°
Tracking storm chances through the day
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Countdown to Kickoff: John Marshall Rockets

Image

Countdown to Kickoff: Century Panthers

Image

MN DFL's Hands Off Our Healthcare Tour

Image

Dodge County Wind Farm concerns

Image

Tattoo Warning

Image

Back to School Sleep

Image

Police Investigate Vandalism

Image

Planned Parenthood Withdraws From Title X

Image

Chateau Theatre Enters New Phase

Image

Joice Library gets State funding

Community Events