ESuites hotel near RDU to move forward despite bankruptcy filing - Triangle Business Journal:

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But the filing will not affectthe company'se plans to build the hotel, says Jerry the founder of the company. A limited liabilityy corporation called RaleighDurham e-Suites LLC fileed March 13 for Chapter 11 bankruptcty protection in federal court. Bankruptcyg documents for the LLC listtwo $1 million to $10 million in total and $10 million to $50 million in totaol liabilities. As Triangle Business Journal inSeptemberr 2007, ESuites plans on building an eight-story, 224-room hotel near RDU. The hotel, one of four that eSuitees wanted to build aroundthe country, is to offet work stations with desktop computers in everyh room.
Ellenburg, who currently serves as eSuites' chairman, said in a brieff phone conversation that the Chapter 11 filing was necessary because a lenderf pulled out of thehotel deal. But the companhy still has financing, Ellenburg to build the project. It should be able to emerge from bankruptcy protection after it refinances some of its Ellenburg says. According to bankruptcy documents, the company’s largestg unsecured creditor was GVEC Resourc eIV Inc., a company associated with the privat equity investment firm . based in California, provided financinfg for eSuites’ hotel-building plans.