One of the most well known hotels in Trenton, NJ is sadly in financial trouble, $25 million worth of trouble. The hotel opened in 2001 and has struggled to make a profit and pay the debt payments ($13.3 million) ever since. Lafayette filed for Chapter 11 bankruptcy, which gives them a break from their creditors. Some of their creditors are Starbucks, DirectTV, USA Today and more. The largest being Wells Fargo Bank and the Trenton Parking Authority who overall are owed $21 million. The Lafayette Board was unable to find a lender before having to file for bankruptcy because they wanted payment before upon sale or liquidation. According to Mayor, Tony Mack, their best option is to sell the hotel to help pay off some of the debt.  The article can be found online and goes into further detail about the Lafayette Hotel situation.

 

 

 

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