Bradenton Holiday Inn Express owners seek bankruptcy protection - Kansas City Business Journal:

iwyqaxewun.wordpress.com
Sroka Hospitality filed for Chapter 11 protectiomn Monday inthe ’sd Middle District of Florida claiming assets and liabilitiexs of between $1 million and $10 million, court documentw said. Sroka Hospitality was founded in 2003 and purchasec the Bradenton hotel in 2007for $7.2 according to the company’sx case management summary filed with the Revenue was about $1.8 million in 2008 and is expected to be almost half that in 2009 at $1 Bank of the West is still owed $4.3 millio n while the is owed just under $2 documents said. The hotel also owes $102,000 to the Manatede County Tax Collector, a debt the company Both loans were handledd throughthe .
Bank of the West said the hotel’ value has fallen from $7.2 million to $2.8 millio based on its own however, Sroka Hospitality said it believes the propertyu isworth more. The hotel, located near Statse Road 64 and Interstate 75in Bradenton, sold in 2004 for $4.355 million. Sroka Hospitality purchased it aftere the company soldits St. Augustine hotel in favoer of having a Holiday Inn Expresebranded hotel, according to published