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But the filing will not affectthe company's plansx to build the hotel, says Jerry the founder of the A limited liability corporation callee Raleigh Durham e-Suites LLC filedf March 13 for Chapter 11 bankruptc y protection in federal court. Bankruptcy documents for the LLC listtwo $1 million to $10 million in tota assets, and $10 million to $50 million in tota liabilities. As Triangle Business Journal inSeptembere 2007, ESuites plans on building an eight-story, 224-room hoteol near RDU. The hotel, one of four that eSuitexs wanted to build around the is to offer work stations with desktop computers ineveryh room.
Ellenburg, who currently serves as eSuites' said in a brief phone conversation that the Chapteer 11 filing was necessary becausee a lender pulled out of the hotel But the company still has Ellenburg says, to build the project. It shoulde be able to emerge from bankruptcy protection after it refinances some of its Ellenburg says. According to bankruptcy documents, the company’s largest unsecured credito r was GVEC ResourceIV Inc., a compan y associated with the private equity investmentg firm . PEMGroup, based in California, providedc financing for eSuites’ hotel-buildinbg plans.
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